On an unrelated note, Indian growth rate per annum averaged and actually pretty much
revolved around 3.5% from roughly the 1960s to late 1970s. It was famously dubbed the
"Hindu rate of growth."
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Anthony P. D'Costa, Professor Currently
Comparative International Development Senior Visiting Research Fellow
University of Washington Asia Research Institute
1900 Commerce Street National University of Singapore
Tacoma, WA 98402, USA 469 A Tower Block
Phone: (253) 692-4462 Bukit Timah Road #10-01
Fax : (253) 692-5718 Singapore 259770
http://tinyurl.com/yhjzrm Ph: (65) 6516 8785
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On Tue, 18 Sep 2007, Gassler Robert wrote:
Date: Tue, 18 Sep 2007 10:27:31 +0200
From: Gassler Robert <[EMAIL PROTECTED]>
Reply-To: PEN-L list <[email protected]>
To: [email protected]
Subject: Re: [PEN-L] funny!
Looking to human nature also helped Greenspan solve a perplexing
economic mystery. Over the last 150 years, it seems that the maximum
productivity growth the economy could achieve over a long period of
time was 3 percent annuallydespite a series of productivity-enhancing
innovations, from the steam engine to the Internet. His conclusion?
"What ultimately looks to be the case is that's the pace at which
human beings operate," he said. People simply can't process new ideas
more quickly. "The answer is that the human race, no matter how one
defines it, is not smart enough to do better."
So the only humans in the world are Americans over the last 150 years? Not even
consistent with his other statements.
