Thus MihailoviÊ (2010, 24-26) finds that, in answer to the question what period was the happiest for the citizens of Ser- bia — the alternatives having been the period before the Second World War, the last decade of the past century, the first decade of the current century and the pe- riod of socialist development —, no less than 81% thought that the socialist period had been the most agreeable! T. [...] As national savings are a multiple of the rate of savings and national income, the rate of growth of capital — in the model based on deducting the depreciation and dealing with net quantities — is obtained by multiplying the rate of savings with the national income and dividing this mul- tiple by the value of capital. [...] This is the essence of the lack of sustainability of extensive growth: as the rate of growth of the rate of growth of cap- ital is, for a newly fixed saving rate, equal to the difference between the rates of growth of the national income and that of capital; a discrete increment of the latter makes the rate of growth of the rate of growth of capital negative. [...] When the rate of technical progress enters as an additional term into the for- mula for the rate of national income growth — the remaining part of the formula consisting of the weighted average of the rates of growth of labour and capital, with the weights equal to the elasticities of the national income with respect to those production factors — the possibility of a steady sustainable increase of. [...] The Backlog of Regional Adversities: The Untoward Consequences of the Collectivist Heritage The principal proposition argued in this paper is about the belated effects of the demised socialist institutional order: the fall in the rate of growth of the leading ma- 26 populizam_knjblk 23/11/2022 18:46 Page 27 Lj.
- Pages
- 27
- Published in
- Croatia
