Adam Smith (1723-1790). WWW. Rostow, Theorists of Economic Growth from David Hume to the Present. With a Perspective on the Next Century , New York, Oxford, Oxford University Press, 1990 [sublinierile ne aparţin]. Generalitati Hume si Smith 1. LUMEA, INTRE BINE [normal] SI RAU [anormal]
Adam Smith (1723-1790)
WWW. Rostow, Theorists of Economic Growth from David Hume to the Present. With a Perspective on the Next Century, New York, Oxford, Oxford University Press, 1990[sublinierile ne aparţin]
LUMEA, INTRE BINE [normal] SI RAU [anormal]
ÎN FUNCŢIE DE CONDUITE
ORDINEA (normalitatea) ESTE ASIGURATĂ PRIN:
ROLUL PIEŢEI (competiţiei libere)
JUSTITIA SOCIALA – condiţia normalităţii [a liberei competiţii] INTERNĂ ŞI GLOBAL
Rostow, 33, 48
Rostow, 34, 47
MÂNA INVIZIBILĂ – SELF LOVE [interesul]
“We address ourselves not to their humanity but to their self-love” – Smith în Rostow
ACEŞTIA AU FUNCŢIA DE RELEU SOCIAL ŞI SUNT DEPOZITARII ATITUDINILOR DE ECONOMISIRE [îndeplineau în sec. XVIII parţial funcţia a ceea ce azi numim “clasă de mijloc”]
“«Merchants are commonly ambitious of becoming country gentlemen, and when they do, they are generally the best of all improvers. A merchant is accustomed – p.48 to employ his money chiefly in profitable projects; whereas a mere country gentleman is accustomed to employ it chiefly in expence.” – Smith in Rostow
DIVIZIUNEA MUNCII - componente
“the division of labor increases productivity, Smith identifies three forces: the worker’s increase in dexterity; the saving of the worker’s time as he concentrates on a single task rather than moves from one task to another; and “the invention of a great number of machines which facilitate and abridge labour, and enable one man to do the work of many. …
CA SISTEM AUTOMAT – self-reinforcing growth
“Smith’s self-reinforcing growth process—in which increased capital investment permits the expansion of the market which, in turn, generates increased profits and further investment—does not proceed indefinitely. A limit is set by a nation’s “soil and climate, and its situation with respect to other countries” as well as by its “laws and institutions.” This statement would appear to imply diminishing returns to agriculture and to efforts to expand markets by geographic extension.”
[teoria ciclului pozitiv al creşterii, a
“creşterii cumulative prin economisire-investiţii”]
1. All savings are [must be] invested; the motive for savings is profit, taking account of risk; savings will rise with the level of income.
2. Enlarged investment is the basis for growth because it is required for (a) enlarging the market; (b) equipping labor to perform increasingly specialized functions; and (c) increasing wages above subsistence necessary to induce the population increase, which will increase effective demand and the scale of the market while also generating the labor necessary to supply the needs of the expanded market. Because savings-investment rises with the increase in income, a cumulative process is set in motion by an initial rise in the investment rate. ...
3. The rate of profit will decline as capital accumulates, income rises, and an economy approaches its “full complement of riches”; but the potentialities for increases in productivity are greater in manufactures than in the primary production sectors.92 [Wealth of Nations, p.242] “It is the natural effect of improvement . . . to diminish gradually the real price of almost all manufactures.” Investment will continue so long as the profit rate (including the risk premium) exceeds the minimum rate necessary to induce men to save.”
Productivity increases mainly via an incremental refinement of old, familiar technologies to exploit the potentialities of widened markets and specialization rather than via the successive introduction of major innovations creating new industries or radically altering methods of production in old industries.
FACTORI ESENŢIAL AI DEZVOLTĂRII
CEEA CE CONTEAZĂ NU ESTE MĂREŢIA BOGĂŢIILOR CI CREŞTEREA CONSTANTĂ A ACESTORA LA NIVEL NAŢIONAL.
EXPRESIA CREŞTERII BOGĂŢIEI NAŢIUNII ESTE DIMENSIUNEA SALARIULUI
“«It is not the actual greatness of national wealth, but its continual increase, which occasions a rise in the wages of labour.”
It is not, accordingly, in the richest countries, but in the most thriving, or in those which are growing rich the fastest, that the wages of labour are highest. England is certainly, in the present times, a much richer country than any part of North America. The wages of labour, however, are much higher in North America than in any part of England. – Smith in Rostow
1. Smith illustrates his first category, where an expansion of supply is virtually impossible, with scarce birds and fish; ... the third, where the real cost of a basic commodity rises irregularly in the course of economic progress, with the evolution of prices for wool, hides, meat, and fish.
2. … His general proposition is that the relative price of all basic commodities except food will rise, as an economy’s real income increases; e.g., textile raw materials, building materials, minerals, precious metals, and stones.
3. ... it is quite clear that he viewed the prospects for productivity increases in such sectors with less optimism than in manufactures, and he expected, therefore, that the relative prices of manufactures would fall. [preţurile manufacturate scad]