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The Soft Engine for Economic Growth in a Long-Time:The Economic Development Power, Conversion and Conservation for economic Energy

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  • Feng Dai

Abstract

Based on the theories of Development Power([18]-[20]) and Partial Distribution([21]-[24]), and combining with the actual economic development, this paper discusses the main ways how the Development Power (DP) is accumulated or released, establishes the analytic models of DP and the model of relation between DP and productivity; classifies economic development into the three states in energy¡ªthe state of normal energy, strong energy and super energy; gives the method of calculating the critical time of strong energy and super energy and the approach to describe the evolving process of these three states; puts forward the laws of conversion and conservation between mass and energy in economic developing. According to that DP is accumulated and released one after another, this paper points out, a sign that accumulation of DP is completed is the most of economic factors are in order, and the sign that release of DP is completed is the most of economic factors are in chaos, and also gives the ways to calculate the most possible time that the DP starts accumulating or releasing. Finally, the author make a comprehensive empirical analysis on all of results in this paper by means of the US GDP data from 1940 to 2003, the outcomes are satisfied. The conclusions in this paper make clear that the economic Development Power, namely economic development energy, is the engine for the economic growth.

Suggested Citation

  • Feng Dai, 2004. "The Soft Engine for Economic Growth in a Long-Time:The Economic Development Power, Conversion and Conservation for economic Energy," Macroeconomics 0411009, EconWPA.
  • Handle: RePEc:wpa:wuwpma:0411009
    Note: Type of Document - pdf; pages: 27. There are three working papers about this topic: 1 F. Dai, Development Power and Derivative
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    File URL: http://econwpa.repec.org/eps/mac/papers/0411/0411009.pdf
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Plosser, Charles I, 1989. "Understanding Real Business Cycles," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 51-77, Summer.
    3. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1986. "Fairness and the Assumptions of Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages 285-300, October.
    4. Feng Dai & Bao- hua Sun & Jie Sun, 2004. "Derivative Process Model of Development Power in Industry: Empirical Research and Forecast for Chinese Software Industry and US Economy," Macroeconomics 0405024, EconWPA.
    5. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    6. feng dai & Jianqiang Liu, 2004. "Development Power and Derivative Process: A Mode and Theory for Macroeconomy Analysis," Macroeconomics 0403015, EconWPA.
    7. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
    8. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    9. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
    10. Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages 251-278, October.
    11. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. feng dai, 2005. "Boating Against the Current: Cases, Concepts, Models and Development Power," Econometrics 0503003, EconWPA.

    More about this item

    Keywords

    Development Power (DP); Partial Distribution; economic growth; energy states of economic development; conversion and conservation on economic energy; analytic model;

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • K - Law and Economics

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