Pompano - 12-22-2009 at 08:03 PM
NEW BAJA GROWTH THEORY?
Yesterday after an early dinner, Co-pilot and I had this discussion on the patio:
Pompano: "Hey brighteyes, I heard more stuff today on the tube about the 'New Growth' that's gonna happen. What's your take on
that?"
Co-pilot: "Well ..DEAR.. I really don't know that much about it, but I do know that New Growth theory studies economic growth.
Called 'new' because unlike previous attempts to model the phenomenon, the new theories treat knowledge as at least partly endogenous. R & D is
one path. Hulten (2000) says that the new growth theories have the new assumption that the marginal product of capital is constant rather than in
diminishing as in the neoclassical theories of growth. Capital often in the new growth models includes investments in knowledge, research and
development of products, and human capital.
However, having said that, I say ...
Look in your own front yard HERE IN BAJA. That's not New Growth, but a continuation of proven successes of sturdy palm trees. Those are hardy
plants and will do well. Over-fertilizing is indeed a common mistake with inexperienced growers."
Pompano: "Jeez. Pretty heavy, kiddo. Best have another glass of Chateau Last Tuesday.
Hey, Whadda think about those Vikings?"
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