Overview

This book primarily discusses what could make the economy remain stable and increase the level of coordination, both on the demand and supply side, a fascinating question for economists. In this context, it systematically analyzes the theory of consumption and production growth. Most of the existing economic growth theories fail to analyze consumption growth. That oversight is remedied here, greatly enhancing the usefulness of economic growth theory. Factors influencing consumption and production at the micro scale provide the foundations of the analyzing frame. An economic system with endogenous technological progress can most likely only be rapidly coordinated under market conditions similar to those in a monopoly competition market. Over the course of the work, readers will discover that there is another way of viewing the economic world which is different from regular textbooks.

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9783662513866

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Meng Liang is an associate researcher and deputy director of the Institute of Financial Research of the PBOC. Dr. Liang received his Bachelor of Engineering degree, Master and Doctor of Economics from Huazhong University of Science and Technology in Wuhan, Hubei Province, in central China. From Aug. 2005 to July 2007, Dr. Liang was engaged in the post-doctoral program at the Institute of Financial Research of the PBOC. Since that time, he has been working at the PBOC as a senior economist.

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