The Nobel Prize winner speaks the global economy from now on, the world's largest economy may be the United States, the EU, or China after 75 years? University of California (Berkeley), University of California, George A. AKERLOF: EU. The EU is more population than the US, but the gap between per capita income is not as large as the population gap. I think the gap between China and the United States, China and the European Union may not be caught in 75 years. Stanford University (Stanford University) Economics Honor Retired Professor Kenneth J.Arow: Unless the economic growth situation changes, China will become the world's largest economy after 75 years. But China's per capita income may not be half of the EU. University of Chicago Economics CLINTON R. Musser Honor Route Ronald H. Coase: China will surpass the US and EU after 75 years, I am convinced that I am convinced. Senior researcher in Hoover War, Revolutionary and Peace Research (HOOVER INSTIN WAR Revolution and Peace): Milton Friedman: China. Caliant University of California (San Diego) Economics Honor Retired Professor Granger: These three economic strength sorted in 75 years should be: US, China and the European Union. University of Pennsylvania Economics Benjamin Franklin Honor Retired Professor Lawrence R. Klein: The world's largest economy is probably China after 75 years. This answer is not based on per capita income. China is growing rapidly, but the population is huge. Moreover, in order to avoid the high empress ratio as Japan, China may relax the limit of the number of household population. From the perspective of per capita, I think the US is the strongest economy after 75 years. Harry M. Markowitz, University of Harry M. Markowitz, University of Harry M. Markowitz, University of Harry, California: China. Princeton University Advanced Scientist John F. Nash Jr.: The range included in the Eurozone is still changing. If Russia has also joined the EU in 2079, it is definitely the world. The largest economy. Otherwise, despite the territory of China and the United States, the United States will still be the largest economy. Stanford University Finance Stanco 25 Honor Retired Professor William F. Sharpe: China has become a total of 50% of the top economically strong country, the EU is 30%, and the United States is 20%. George Mason University Economics and Law Professor Vernon Smith: MASSACHUSETTS Institute of Technology College Honor Retired Professor and Economics Honor Retired Professor Robert Soro ( Robert M. Solow): According to the total economic value, it may be China. By the per capita value, it should be the United States. Joseph E.stiglitz, University of Columbia University: It is difficult to make judgments for 75 years later. First of all, we don't know what national will join the euro zone, and the euro zone will expand in terms of speed. Second, we must admit that maybe China is not the first big country in China, but the population of the country will only increase. However, even if China's economic growth is unable to maintain the momentum like the past 25 years, the gap between China and the EU and the United States will also shrink sharply.
As a result, it is very likely to have another economic power equalization. Which country or region currently adopted the most reasonable economic policy? why? George Yaclov: Sweden. The Swedish government actively supports those who truly need help, this country is basically in full employment. Kennes Joseph Arro: Good policy is a matter, how is the effect is another thing. We have to say that from experience in experience, although economic policies implemented by China, Taiwan and South Korea have some violation of economic standards, their policies are indeed very reasonable. Milton Friedman: Hong Kong, mainly to the management system left by the UK. Granger: Norway. Although Norway has oil, this country can manage oil revenue. Lawrence R. Clan: I chose Norway. The social-political-economic policy taken by this country allows people with different levels to be imparted. Norway has excellent natural conditions and important economic resources. From the perspective of overall economic welfare, the Norwegian government is reasonably utilized. Harry Makovitz: The "Free Market" of the United States is the best policy, followed by China. John Nash: Of course, Switzerland. At least Switzerland did not take the wrong road, the country did not implement the policy of stimulating economic growth but in a long time, but would like to be violated. William Sharp: It may be the UK, definitely not the United States. Vernon Smith: US ... has a certain degree of freedom. The EU is more and more like engaging socio-economics. The pace of China is moving towards the right direction. Robert Soro: I can't answer this question, different countries have different problems. The United States is strong than other developed countries in many ways, but is not in all aspects. It is difficult to say that Denmark or the Netherlands - the whole of the two countries is very good - is it comparable. Joseph E. Stigletz: There are different problems in each country. This problem is difficult to answer, as if they are all exam, but the exam questions are different, in this case it is difficult to score. In the last three or four years, the policy taken by the United States is clearly very bad. The macroeconomic policy in Europe is not reasonable. The Growth and Stability of the Growth and Stability did not play a role, and the European Central Bank did not work hard. Europe's economic development has been unclear. If you look at the overall performance of the economy, it is obvious that China's performance is the best, and it has also shown high economic management capabilities in East Asian Crisis. Things are always changing. There will always be a new challenge - you have to make a measure of the ability of countries to control the new situation. From the speed and flexibility of economic growth, China has left a deep impression. South Korea has also been scratched from the 1997 crisis. Therefore, the policies developed by South Korea and China should be said to be very good. Including you, who is the most outstanding economist in the twentieth century? George Yaclov: John MayNard Keynes. Kennes Joseph Arro: This problem is not good, because some of the most important economic theories in the twentieth century are the results of many people (such as national income accounting, information asymmetry theory and game theory, etc.). If you want to point someone, I will choose Ragna Frisch. Unlike other economists, he began combining theoretical models and empirical research, the latter is now the main research method in the field of economics. If you reach a person, That is SIMON KUZNETS, and he develops the national income accounting theory to actual application, making a country's economic growth has the most concerned issues in the field of economics. Milton Friedman: Keynes. Granger: Milton Friedman - he let all people awake. Lawrence R. Clan: I chose Paul Samuelson, then Cairns. Harry Marcovitz: Milton Friedman. John Nash: Keynes.
William Sharp: Kennes Joseph Aro or Paul Samuelson. Vernon Smith: Hayek. Robert Soro: Cairns. Joseph E. Stigletz: Do you really want to answer this question? I feel that it is difficult to say a most outstanding economist. Many people have made different outstanding contributions. Talking about the twentieth century, people will think of Keynes, Samuelson and Arro. They have a very huge influence. The reason why I am answering this question is a bit hesitation, that is because many people have a major influence in their respective economic sectors. Although it is not a revolution, at least many people have promoted the development of economics. The new theory is established. Keynes said that economic balance can be achieved in the event of unemployment. Before that, many people said that only the economic balance of full employment. He helped economists realized the persistence of unemployment issues. Although not all people will use Cairns model, but research on this issue is a major breakthrough in economics. Cairns's theory is to establish a macroeconomic management from his theory to develop from his theory to shorten its economic crisis, and the danger is reduced. This is the most influence on the economy. Over the past 50 years, which breakthrough is the most impact on people's daily life? why? George Yaclov: The application of game theory. It enables economists to study more detailed research, so that theoretical research is better in line with the actual situation. Kennes Joseph Arro: I really don't know what is "a breakthrough". I believe that the use of model analysis to analyze the impact of different policies This is possible for the development of policies, the development of theory, the calculation revolution, and the increase in data volume have made it possible. Model analysis is not necessarily possible to develop the correct policy, but at least avoid the possibility of making error decisions. Milton Friedman: People receive inflation is a view of monetary phenomenon. Why is this? Because of this kind of thought-based economic policy has enabled some developed countries to maintain low inflation more than 20 years, while having a relatively stable economic output, high-level employment and living conditions. Granger: The ability to control inflation. Lawrence R. Clan: Jan Tinbergen has become one of the first Nobel's economics award winners. His research in the field of construction of metering economics has been far exceeded at the time of the time, and these resources are not available today. He uses formulas to express the main theories based on economic policies, and lay the foundation for their in practice by metrology economics. In addition, he encompasses many income opinions on income distribution, wealth effects and wage decisions in the models built in League Of Nations. His research has made breakthrough progress in the 1930s. Since then, the model built on the basis of his research is widely used in the world. Harry Makovitz: I think it is a portfolio theory, of course, I may have a little biased. John Nash: I don't know how to make a choice; a great economic theory requires more than 50 years to prove its significance. William Sharp: Friedman's monetary theory and Keynes' macroeconomic theory. Fernoman Smith: Hayek's theory talks, the various information required to manage the economy is dispersed, and a subject cannot fully grasp all information; the system that is unified to command the economy will eventually fail; Chile, Soviet, Eastern Europe and China have relaxed a centralized control of their economy. Robert Soro: This is not good. Further understanding international trade, foreign exchange rates and open economy may be considered. (Considering from digital.) George Yaclov: Criminal and Judicial System (there are military). These also include private operation prisons. Kennes Joseph Arro: There are a lot, but from the scale and depth of the influence, the medical policy sector is the largest in the market forces. What do you think is the most powerful force? Milton Friedman: human autonomy. Granger: Mathematics and scientific origin work.
Lawrence R. Clan: If there is no powerful political supervision and leadership, there will be many market failures and corruption behaviors under the market system, which is reflected in many ways, and the most obvious performance is the internal and national income and Inequality for wealth allocation. Harry Makovitz: Pollution. John Nash: The statement of "the power to restrict the market" means that people are arranged rather than let the market balance to decide the development of the situation. Simply, a country defends its own existence. This may lead to many concepts about the national self-sufficiency. For example, Japan may choose not to let all rice rely on imports! William Sharp: Excessive concentration of economic and political power. Fernon Smith: Nothing, because the "market" itself recognizes that the information dispersed in the social system, the problem faced by the society is to find, design and discover the following system: the system incentives and make people can guide people without others Under the case of the correct decision. The idea to control the market forces is to stem from a wrong understanding of the fundamental of market concepts. This question is not right. Robert Soro: Developed countries should mainly avoid expansion of large-scale unemployment, poverty and inequality. Joseph E. Stigletz: Economist usually puts the distribution of income in front. We have no reason to believe that the income distribution formed under the market forces is the most reasonable or most acceptable. If there is no government intervention, let the market mechanism play a role, which will cause a large number of people to survive. This is where the government needs to be active. We know that the role of the market will lead to a large land of the economy. We need to take some measures to improve this situation. We also know that market effects will cause environmental pollution - so it will be specified for the government to formulate policy measures. Also, public facilities are usually facing the difficulties in investment. When you think of innovation economy, we should not forget that innovation in most private sector is based on government-funded research work results, such as the Internet is a good example. What do you think is the biggest economic challenge facing today? George Yaclov: How to deal with global warming. Kennes Joseph Arro: African region affiliated with the Sahara desert and the extreme poverty in South Asia. Milton Friedman: Reduces the scale and power of government agencies. Granger: Instead of replacing the continuously reduced resource with an appropriate speed. Lawrence R. Clan: The same efforts in a peaceful political environment to reduce poverty and disease will be the main challenge of our era. Harry Makovitz: Reduces tariffs for developing countries. John Nash: One challenge that people can't avoid is how to improve or at least in the feeling of improving the living level of humanity with the growing population grows as the population grows. In many ways, people feel that living standards are raising, incredible. William Sharp: Financing for medical and pension expenditure. Fernon Smith: Removes all the measures against free trade and resource flows, to maximize the wealth and eliminate poverty in the only wayward manner. Robert Soro: The world's poverty countries achieve common development. Joseph E. Stigletz: It is difficult to say which challenge is the most severe. Maintain the stable development of the global economy - not only guarantees full employment, showing is a huge challenge. In addition, the instability of exchange rate and capital flow is also a problem. It has been more interdependent between the world's economies, so it is necessary to establish an effective global cooperative system. The second question is the development and gap between the rich country. This problem has been improved in the past 25 years. But if you can't continue to improve, it will have a huge impact on society. Do you think economic globalization will be more averaged 50 years, or is it more uneven? Why? George Yaclov: It is even more uniform, because China and India may catch up with developed countries in Western countries. Kennes Joseph Arro: If China, India and Indonesia, the growth rate of per capita income exceeds developed countries, I think the distribution of income will be more average. Milton Friedman: More average.
