Talk:Economic growth

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Wiki Education Foundation-supported course assignment[edit]

This article was the subject of a Wiki Education Foundation-supported course assignment, between 28 August 2018 and 22 December 2018. Further details are available on the course page. Peer reviewers: Edwardv96.

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Drain the swamp[edit]

This article is chock full of OR, UNDUE, and SYNTH that does little to convey mainstream thinking about this topic. We should begin by paring all the off-center theories and viewpoints stated in WP's voice. SPECIFICO talk 21:57, 15 February 2018 (UTC)[reply]

Position of theories in article[edit]

Theories belong after causes, which is the section Other factors affecting growth. The models use these or they are considered exogenous. Causes are well covered in the literature. I know people were awarded Nobel prizes for models, but that does not make them particularly useful at explaining or predicting anything, in part because of the exogenous factors. One critic said for models to be useful they have to incorporate a minimum number of factors, but that makes them less accurate. Also, most factors are not quantifiable, such as capitalism, national intelligence and new products. There are several criticisms of mathematizing economics as taking a wrong turn.Phmoreno (talk) 13:46, 27 December 2018 (UTC)[reply]

The long standing arrangement was to have "Growth theories and models" as section #4, but suddenly on December 26 you decided to put them at the end of the page, after someone else had moved the section. If you want to keep them after the cause, it's fine. But then, in order to be consistent, you should bring theories as section #4. — Preceding unsigned comment added by VDB 1999 (talk • contribs) 19:05, 28 December 2018 (UTC)[reply]

Theories going in Section 4 is acceptable. I only moved them because the were moved to the middle of the article flow.Phmoreno (talk) 21:30, 28 December 2018 (UTC)[reply]

Innovation vs. productivity[edit]

Doesn't innovation cause increases in productivity, and not the other way around? I don't see why this article puts productivity on a pedestal and only mentions innovation in passing when productivity is strictly dependent on its causes. Nobody ever invents productivity increases, they invent goods, services, and methods which cause productivity to increase. It's like if an article on health explained that increased health is because of lengthening lifespans. 73.222.1.26 (talk) 02:47, 2 January 2019 (UTC)[reply]

Innovation is about change, usually about new methods of making things, improving products or introducing new products and services. Improving productivity is about lowering labor or capital used in production, although some measures also include using less energy and materials. If new or improved products do not reduce labor and capital they do not boost productivity unless they somehow add to output. Usually the effect of new products is indirect in that because of increases in productivity total output would have contracted if it were not for new products.Phmoreno (talk) 22:37, 2 January 2019 (UTC)[reply]
Are the changes in productivity you are talking about not legitimately innovations? 73.222.1.26 (talk) 23:20, 2 January 2019 (UTC)[reply]
All increases in productivity are the result of innovations, but not all innovations improve productivity.Phmoreno (talk) 00:12, 3 January 2019 (UTC)[reply]

It is widely recognised that Four Tigers are Singapore, Taiwan, Hong Kong and South Korea.[edit]

Wiki Friends, new comer is here. I would appreciate your advices.

I recently read this article about Economic growth. Main part of the article is about the growth models provided by the fore-running great economists which I really enjoyed reading. Before the elaboration of the models, the article provides brief history of the worldwide economic development. I was amazed about the statement that the “Four Tigers” are Japan, China, Singapore and South Korea. And a few days later it was revised to China, Singapore, South Korea and Indian subcontinent, and then, the current edition as excerpted in following paragraph.

Economic growth in the United States slowed down after 1973.[33] In contrast growth in Asia has been strong since then, starting with Japan and spreading to Four Asian Tigers, China, Southeast Asia, the Indian subcontinent and Asia Pacific.[34][35] In 1957 South Korea had a lower per capita GDP than Ghana,[36] and by 2008 it was 17 times as high as Ghana's.[37] The Japanese economic growth has slackened considerably since the late 1980s.

It is well known that the “Four Tigers” are Singapore, Taiwan, Hong Kong and South Korea. This is not a strict academic issue, rather a loosely used term to describe the history of the economic development. Back to 1970’s, Singapore and Hong Kong were successful in changing themselves as regional financial and management centers and Taiwan and S. Korea were developing “manufacturing” to grow the export to earn and build foreign exchange. The article makes a lot of sense to describe the history of the worldwide economic growth track. It is not that I don’t admire China’s great achievement in rapid economic growth in recent 20 years, but back to 1973, the strides have not yet begun.

Also the reference number 33 & 34 are totally irrelevant. I am unable to trace what is the original and suggest putting in the reference of Olivier Blanchard’s Macroeconomics, page 236, 6th edition, which states what Four Tigers are. Blanchard has been teaching in Harvard and MIT and worked for government and organizations, including World Bank, IMF and OCED.

I would appreciate any input. — Preceding unsigned comment added by Raymond TM Lee (talk • contribs) 08:16, 8 May 2020 (UTC)[reply]

Maybe your comments are better targeted at the talk page for the Four Asian Tigers page. Or make the changes yourself. Sanpitch (talk) 02:37, 27 September 2021 (UTC)[reply]

Purchasing Power Parity (PPP)?[edit]

Are the numbers in this article PPP or just nominal adjusted for inflation without adjusting for cost of living?

I read, "Real GDP is measured in 2008 dollars" in [6]:

  • Mankiw, Gregory (2011). Principles of Macroeconomics (6th ed.). p. 236. ISBN 978-0538453066.

Am I to assume it's PPP? I also cannot find the source in that source: It says, "World Development Report 2010, Table 1", but I cannot find that reference. I found something that claimed to be that, but I could not find the numbers in that report that appear in this table.

Thanks, DavidMCEddy (talk) 14:41, 8 November 2021 (UTC)[reply]

Geography[edit]

The impact of berg wind on human, economy and environment 41.114.96.196 (talk) 21:29, 4 February 2022 (UTC)[reply]

{{Cite book ... vs. Cite Q[edit]

@Trappist the monk: Why do you replace a use of {{Cite Q with a poor incomplete {{Cite book citation?

Are you familiar with Template:Cite Q?

Are you aware that the link to the Wikidata entry for that book includes a link to the Wikipedia article on that book as well as substantial additional information on the book including a link to an electronic copy of it available for check out anywhere in the world from the Internet Archive?

The book is by an economist Robert J. Gordon, who is different from an attorney named Robert J. Gordon, Wikidata Q16224376.

AND any additions or corrections to a citation in Wikidata are instantly available to every reference to that Wikidata item. If, for example, a new edition of that book becomes available, the connection can be made in Wikidata and it will become immediately available to all references to that Wikidata item.

??? Thanks, DavidMCEddy (talk) 01:04, 7 April 2022 (UTC)[reply]

reference info for Economic growth
unnamed refs 131
named refs 48
self closed 39
cs1 refs 162
cs1 templates 179
cs1-like refs 4
cs1-like templates 4
harv refs 1
harv templates 1
sfn templates 14
rp templates 2
cleanup templates 7
webarchive templates 9
use xxx dates dmy [ly]
cs1|2 dmy dates 5
cs1|2 mdy dates 9
cs1|2 ymd dates 14
cs1|2 last/first 159
cs1|2 author 4
List of cs1 templates
  • cite book (45)
  • Cite book (6)
  • Cite journal (30)
  • cite journal (45)
  • cite magazine (1)
  • cite news (7)
  • Cite SSRN (2)
  • Cite web (18)
  • cite web (25)
List of cs1-like templates
  • cite Q (4)
List of sfn templates
  • sfn (14)
List of harv templates
  • harvnb (1)
explanations
Of course I know about {{cite q}}; I wrote the initial version of Module:Cite Q on which the template depends. But, that does not mean that I think that {{cite q}} is ready-for-prime-time. It is not and may never be until en.wiki editors form a consensus that accepts wikidata as a reliable repository and solves some very basic WP:CITEVAR-related issues (author names split into |last<n>= / |first<n>= but {{cite q}} uses |author<n>= for example, because that is how wikidata represents author names). At present, the consensus is against wikidata.
I published my edit at 00:27, 7 April 2022. At 00:53, 7 April 2022, 26 minutes after my edit, you added the Robert J. Gordon author claim to The Rise and Fall of American Growth (Q97627911) with further additions in the minutes following. Because the wikidata were incomplete, of course, the translation that I made from Q97627911 to a readable citation was incomplete. But, at least the citation was readable which, for me is most important. Most editors, myself included, won't bother with wikidata no matter what advantages may exist in using {{cite q}}. And readers, almost certainly, will not follow the wikidata link to see that the book is available at internet archive; if anything they will follow the title link to our article about the book where there is mostly nothing more than would be found on the publisher's website; it would be better to write that citation as a {{cite book}} and include |url=https://archive.org/details/risefallofameric0000gord.
WP:SAYWHEREYOUGOTIT applies. If Gordon's first edition stated something and that something were cited from that edition and then a second edition comes out that doesn't state that same something, someone changing the wikidata to point to the second edition all-of-a-sudden breaks the article-source integrity.
Of the six {{cite q}} templates, two show error messages:
  • {{cite Q|Q97627911}} →
    Robert J. Gordon (2016), The Rise and Fall of American Growth, Wikidata Q97627911
    <code>{{Citation |author-link1=Robert J. Gordon |author1=Robert J. Gordon |id=[[WDQ (identifier)|Wikidata]]&nbsp;[[:d:Q97627911|Q97627911]] |language=en |publication-date=2016 |title=[[The Rise and Fall of American Growth]]}}</code>
  • {{cite Q|Q111450202}} →
    François Bourguignon (2003). "Growth Elasticity of Poverty Reduction: Explaining Heterogeneity across Countries and Time Periods". Inequality and Growth: Theory and policy implications: 3–26. Wikidata Q111450202. {{cite journal}}: |chapter= ignored (help)
    <code>{{Cite journal |author-link1=François Bourguignon |author1=François Bourguignon |chapter=1 |id=[[WDQ (identifier)|Wikidata]]&nbsp;[[:d:Q111450202|Q111450202]] |journal=Inequality and Growth: Theory and policy implications |language=en |pages=3-26 |publication-date=2003 |title=Growth Elasticity of Poverty Reduction: Explaining Heterogeneity across Countries and Time Periods}}</code>
this one is a conference paper so {{cite journal}} is inappropriate
  • {{cite Q|Q111455533}} →
    Dale W. Jorgenson; Mun S. Ho; Jon D. Samuels (12 May 2014). "Long-term Estimates of U.S. Productivity and Growth" (PDF). World KLEMS Conference. Wikidata Q111455533.
    <code>{{Cite journal |author-link1=Dale W. Jorgenson |author1=Dale W. Jorgenson |author2=Mun S. Ho |author3=Jon D. Samuels |id=[[WDQ (identifier)|Wikidata]]&nbsp;[[:d:Q111455533|Q111455533]] |journal=World KLEMS Conference |language=en |publication-date=12 May 2014 |title=Long-term Estimates of U.S. Productivity and Growth |url=https://web.archive.org/web/20160221224301/http://www.worldklems.net/conferences/worldklems2014/worldklems2014_Ho.pdf}}</code>
this violates WP:CITEVAR by using {{citation}} instead of {{cite book}}; this one also seems to be a self-published source and the title at wikidata does not match the title at the linked source:
Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer – deanbaker.net
Rigged: How globalization and the rules to the modern economy were structured to make the rich richer – wikidata
this one also violates WP:CITEVAR by using {{citation}} instead of {{cite book}}
  • {{cite Q|Q111450348}} →
    Allan Schnaiberg (1980), The environment, from surplus to scarcity, Oxford University Press, Wikidata Q111450348
    <code>{{Citation |author-link1=Allan Schnaiberg |author1=Allan Schnaiberg |id=[[WDQ (identifier)|Wikidata]]&nbsp;[[:d:Q111450348|Q111450348]] |language=en |publication-date=1980 |publisher=[[Oxford University Press|Oxford University Press]] |title=The environment, from surplus to scarcity}}</code>
so in the end, of the six, this is the only one that is a proper citation:
  • {{cite Q|Q56032205}} →
    Manfred Max-Neef (November 1995). "Economic growth and quality of life: a threshold hypothesis". Ecological Economics. 15 (2): 115–118. CiteSeerX 10.1.1.321.4576. doi:10.1016/0921-8009(95)00064-X. ISSN 0921-8009. Wikidata Q56032205.
    <code>{{Cite journal |author1=Manfred Max-Neef |citeseerx=10.1.1.321.4576 |doi=10.1016/0921-8009(95)00064-X |id=[[WDQ (identifier)|Wikidata]]&nbsp;[[:d:Q56032205|Q56032205]] |issn=0921-8009 |issue=2 |journal=[[Ecological Economics (journal)|Ecological Economics]] |language=en |pages=115-118 |publication-date=November 1995 |title=Economic growth and quality of life: a threshold hypothesis |volume=15}}</code>
{{cite q}} is not ready for primetime.
—Trappist the monk (talk) 14:18, 7 April 2022 (UTC)[reply]

Effects of income inequality in the US[edit]

@SPECIFICO: You reverted my recent insertion pertaining to the effect of inequality on growth and recovery time in the US. Why do you believe it is WP:UNDUE? I note that you did not reply to my statement two weeks ago at Talk:Economics that I intended to add it here. Dan Ratan (talk) 12:19, 11 June 2022 (UTC)[reply]

I don't (yet, if ever) have an opinion about the content, but I almost reverted it just because it was stuck randomly under a top subheading in a section with more than one sub-sub-subsection. Besides content, if it comes back, please work to place it smoothly with the rest of the presentation. NewsAndEventsGuy (talk) 12:32, 11 June 2022 (UTC)[reply]

New weave of economic growth and welfare[edit]

History of economic thought 203.215.174.90 (talk) 19:11, 16 September 2023 (UTC)[reply]

Economics[edit]

Production Possibility Curve(PPC) Production Possibility Curve or transformation Curve is the presentation in a graphical form of all possible combinations of two commodities which a society can produce by employing full and efficient resources at a given state of technology. 105.112.17.254 (talk) 22:01, 16 October 2023 (UTC)[reply]

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