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How does mass innovation bring national prosperity?
Source:original    Writer:admin    Released on:2015-08-07    

EdmundS.Phelps

 “After owning a house, you can’t walk away at any time. You will be frozen and fixed in a place where you can't move. That’s not good for innovation.”--- the thought of EdmundS.Phelps, who is over eighty years old, is even more fashionable than many young people. He is a global authoritative scholar of employment and growth theory, the “modern macroeconomics founder” as well as one of “the most important figures affecting the process of economics”. In 2006, he was awarded the Nobel Prize in Economics, and he now serves as the dean of New Huadu Business School of Minjiang University. Phelps' contribution to the economic theory is diverse and excellent. He has proposed the famous “Golden Rules of Economic Growth” which explores the relationship between labor and capital. As a result, the famous "Economic Growth Theory" has been established.

Phelps has visited China many times, and has a wide understanding of the development of China’s economy. Under the background of public entrepreneurship and innovation, the Chinese government has begun to cultivate and encourage local innovation consciously, so as to seek a new growth point of China’s economic transformation. In this regard, Phelps also has many unique ideas. In his opinion, the public is the source of innovation, and youth entrepreneurship is the future of China's economy. Therefore, the government should build a platform for innovation so that the public can have a keen insight and innovative power in economic activities, so as to create a vibrant economy.

At present, China’s economy enters a critical period of “shifting gears to slow down”, and looking for new growth engins has become the focus of attention for all parties involved. Then, how will China’s economy grow? Where does the economic boom come from? Let us come up and listen to the economist’ wise ideas and thoughts.