A Template for Economic Growth Statistics:A Review of Aghion's The Power of Creative Destruction:Economic Upheaval and the Wealth of Nations
The Power of Creative Destruction:Economic Upheaval and the Wealth of National is an economic masterpiece published by renowned French economist Aghion,et al.in 2020.The book adopts the"Schumpeter paradigm"("creative destruction paradigm")to explore economic and social mysteries and problems related to the growth process.The first to sixth parts of this article mainly summarize and paraphrase the contents of economic growth statistics in Aghion's book,while the seventh to eleventh parts mainly focus on the comments on economic statistics.First,the inherent meaning of GDP data fundamentally contradicts the essence of quantitative analysis under the pure market concept.In the era of globalization,the"Foreign Account"is an indispensable set of items for macroeconomic balance accounting.Second,countries at different"chain positions"in the global production chain face different growth constraints.For emerging economies,globalization is by no means the so-called free competition market economy.Third,the measurement of the net benefits of"creative destruction"requires special attention to the thorough comparison of long-term costs and short-term costs,as well as potential costs and apparent costs.Fourth,the decline in the development of economic statistics is fundamentally due to the structural defects within the discipline of economics itself.Only the consciousness of avoiding the"measurement trap"can be set up to break the"historical extinction"of economic statistics.
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