O Efeito de uma Letra Errada

Neste blog de economia que eu sempre leio, ocorreu esta troca de comentários entre os participantes, e tudo porque alguém soletrou "bread" em vez de "breed".

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Mark A. Sadowski said...

Count me sceptical (as usual). I believe that potential output is conditional on current output. In other words a persistent output gap will cause the long run growth rate of the economy to diminish (as it has with Japan).

There was a good article on this published some 50 years ago. I believe its title was "The Importance of High Pressure Economics". (I'll have to search through my stacks.)

The point is that the best way to generate high rates of long run growth is to keep your economy near capacity. Large output gaps tend to lead to a depreciation of capital, be it physical or human. And depreciation of capital leads to lower rates of growth in potential output.
Reply Thursday, May 26, 2011 at 09:39 PM

Mark A. Sadowski said in reply to Mark A. Sadowski...

My memory evidently is beginning to fade. It was an old book (1957) called The American Economy by Harvard economist Alvin H. Hansen. The section of the book I am thinking of is aptly titled "The Case for High-Pressure Economics."
Reply Thursday, May 26, 2011 at 10:25 PM

hix said in reply to Mark A. Sadowski...

Japans gdp is growing alright. They just dont bread that much.
Reply Friday, May 27, 2011 at 12:38 AM

reason said in reply to hix...

Or breed for that matter.-)
Reply Friday, May 27, 2011 at 05:39 AM

Eric said in reply to hix...

I've had some good Japanese baked goods, but I agree if this comment is that you'll do lots better going to Vienna, for example. But they do wonders with pork, which was something that surprised me.
Reply Friday, May 27, 2011 at 05:39 AM

Mark A. Sadowski said in reply to hix...

I'm not sure about the Japanese proclivity for bread. However, if you're referring to their population growth rate why has their GDP per capita growth rate been so much lower since 1992?
Reply Friday, May 27, 2011 at 07:19 PM
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O tópico era "Will the Economy Return to the Old Normal?"

Ver: http://economistsview.typepad.com/econo ... ormal.html

Após passar brevemente pela questão da comida, eventualmente a discussão retornou a questão do futuro taxa de crescimento da economia americana. Tudo por causa de uma letra errada...