Economic growth, fluctuation and adjustment

Author: Wu Haihua
Publisher:
Publish Date: 2004-06-01
Features: Whether in developed countries or developing countries, "economic growth" is an eternal topic that must be addressed. S. Kuznets defined economic growth as: "The growth of a country's economy can be defined as the long-term increase in the ability to provide residents with a variety of economic products. This continuously growing ability is based on advanced technology and the corresponding adjustments of the necessary institutions and ideological awareness." From this, we can at least obtain the following information: growth is long-term, multi-factor, dynamic, and controllable. Understanding the laws of economic growth and grasping the time and space of economic fluctuations are prerequisites for ensuring sustained economic growth and the sound development of the social economy.