"The links between credit, growth and jobs are not instantaneous. It takes time for disappointing growth to translate into weak employment, because employers hesitate to fire people. Likewise loose credit feeds into fast growth only after a lag (of up to nine months, by some estimates). Since these lags can be long and variable, economists can use them to link almost any unexpected effect with any favourite cause. That is one reason they are held in lower esteem than engineers."
http://www.economist.com/news/china/21576426-chinas-disappointing-new-growth-figures-are-not-end-world-climbing-stretching-and?fsrc=nlw|hig|4-18-2013|5560213|35042158|
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sent from samsung galaxy note, so please excuse brevity
http://www.economist.com/news/china/21576426-chinas-disappointing-new-growth-figures-are-not-end-world-climbing-stretching-and?fsrc=nlw|hig|4-18-2013|5560213|35042158|
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sent from samsung galaxy note, so please excuse brevity
3 comments:
http://dilbert.com/blog/entry/china_is_doomed/
thanks. i was thinking of this when i read the economist piece talking about engineers being replaced by humanities types in china. "doomed", i thought.
alas, india has been doomed from the time of chacha with the likes of sibal and chidambaram (lawyers) in power. just count, how many of your state politicians are lawyers? i thought so.
Why a Rise in M.B.A.s Coincided with the Fall of American Industry
There are, and will be for the foreseeable future, a lot more bean counters than engineers in this country. But the same may soon be true in China, where the state plans to open 40 new graduate schools of business in the next few years. As Lutz puts it, "That's the best news I've heard in years."
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