Little time but let's see...
Yum said:
Which to me sounds like you use all possible resources to maximize GDP% increase while keeping all other affected variables at a subsistence level thereby "optimizing resources (only) for growth".
Not optimize resources (in general?) as Bearcat said succeeding that:
Which to me is just too broad and convenient to say for an Economist. Oh and once again I am Sooo very tempted to make the lawyer quip too
Secondly,
What would you consider "High" for a country like the U.S. ?
No, that higher potential was my take on it.
Oh and you expressed growth in terms of percentage though, remember?
Hypothetically ok? Lemme give an extremely simplifed example, using resources produced instead of GDP
Shitty country
3 (Total resources produced at the end of the year) /10 (Total Resources at the beginning of the year) = 30% per annum
Nice country:
200 (Total resources produced at the end of the year) / 1000 (Total Resources at the beginning of the year) = 20% per annum
Looks like shitty country has a higher resource production rate right? Necessarily a good thing? Nah.
I see. Fine I agree About the free-trade thing. Maybe, Haven't checked what you typed in about it earlier but whatever.
As for Japanese immigration laws, last time I checked? They were way stricter than the US'. And probably one of the strictest in the world - Such is the general consensus among Japanese liberals. Go research and tell me why.
Seriously though, I'm thinking of posting a few more before leaving this topic altogether, development economists have written essays and books on these topics and unless we were in a debate where solid political influence was at stake, I really don't feel it right to argue about these things. Hell, I was planning on going on to say that growth can be defined differently for each country and that growth doesn't necessarily mean development which in turn blablabla but nah.... it feels so pointless.
Yum said:
You think the US economy absolutely has to optimize its usage of resources for "growth"?
Which to me sounds like you use all possible resources to maximize GDP% increase while keeping all other affected variables at a subsistence level thereby "optimizing resources (only) for growth".
Not optimize resources (in general?) as Bearcat said succeeding that:
Yes, an economy should optimize its usage of resources. Of course, optimize means "to make the best," not "make the biggest."
Which to me is just too broad and convenient to say for an Economist. Oh and once again I am Sooo very tempted to make the lawyer quip too
Secondly,
The US doesn't have to grow at any particular rate, but its generally better for it to be high
What would you consider "High" for a country like the U.S. ?
Japan and Germany are useful comparisons. I'm having a difficult time parsing "You yourself saying East Germany had to be absorbed therefore putting Germany "lower" and giving it a higher potential for growth?" since I never said absorbing East Germany gave it a higher potential.
No, that higher potential was my take on it.
Trying hard not to be mean. But seriously you sometimes simplify the worst things to simplify - the political, economic and social pressures to develop East Germany post-Cold War must've been significant, but yeah a whole essay can be written on that. Unless of course... you want a middle school answer.Actually, I said it stunted growth, for reasons that should be obvious to anyone who's cracked a middle-school history text.
Oh and you expressed growth in terms of percentage though, remember?
Um, no, Japan and Germany now. Germany has managed to keep a relatively high (nearly 3%) growth per year, despite having absorbed East Germany, which was stripped of resources by the Soviets until 1990, and despite having few natural resources other than coal, production of which the government has been trying to reduce. Japan has a similar lack of natural resources, compounded by lack of arable land, and despite this, has a growth rate higher than the US (3.3% vs. 3.2%).
Hypothetically ok? Lemme give an extremely simplifed example, using resources produced instead of GDP
Shitty country
3 (Total resources produced at the end of the year) /10 (Total Resources at the beginning of the year) = 30% per annum
Nice country:
200 (Total resources produced at the end of the year) / 1000 (Total Resources at the beginning of the year) = 20% per annum
Looks like shitty country has a higher resource production rate right? Necessarily a good thing? Nah.
My point was not that the theories are right, but that free-trade nuts are hypocritical when they invoke Adam Smith et al. and the invisible hand and all that jazz to support their policies, but then don't accept the corollaries. I personally think most country's immigration laws are too strict, and criticizing the US isn't the same thing as elevating other countries. I'm fairly certain there are lively debates on Japanese blogs about their immigration policies. I simply know the US better and my opinions have more power here than Japan since a) my comments are in English and b) I can't vote in Japan.
I see. Fine I agree About the free-trade thing. Maybe, Haven't checked what you typed in about it earlier but whatever.
As for Japanese immigration laws, last time I checked? They were way stricter than the US'. And probably one of the strictest in the world - Such is the general consensus among Japanese liberals. Go research and tell me why.
Seriously though, I'm thinking of posting a few more before leaving this topic altogether, development economists have written essays and books on these topics and unless we were in a debate where solid political influence was at stake, I really don't feel it right to argue about these things. Hell, I was planning on going on to say that growth can be defined differently for each country and that growth doesn't necessarily mean development which in turn blablabla but nah.... it feels so pointless.