Rekindling looking back has been three lives

Chapter 66 This article does not have to refer to any literature

Facing Xiao Yuejia's question of "who is she?" Yan Heng didn't even think about it, and opened his mouth to answer, "She? Ye Xiaomi, Teacher Ye, Wu Chuzhi's senior sister, Zeng Huixian's doctorate."

Yan Heng didn't lie, he just dropped a few words.

It's just a 'future doctoral student'. In his opinion, it's not a big problem if you lose some words when you speak, as long as you get the meaning, the most is that the expression is a little inaccurate and not rigorous.

It's not intentional deception.

Things of two natures, as a scumbag who has never passed 110 in Chinese, this is easy to understand, right?
When Xiao Yuejia heard this, she smiled.

Although the Yelaoshi in the distance looked at Wu Chuzhi with strange eyes, but...

What fear do I, Xiao Yuejia, have?

Since it is Teacher Ye, it means that he is at least a lecturer.

Combined with the word 'doctor', the age gap between these two people is too far away.

Wu Chuzhi is now a junior, and under normal circumstances there is still one year left before graduation.

Counting three years for a master's degree and four years for a doctoral degree, and now it's the second half of the semester...

In other words, Ye Xiaomi, who is a lecturer, is at least eight years older than Wu Chuzhi, who is a year late, and even if it is less, it is at most a matter of the month.

Xiao Yuejia suddenly remembered watching a TV series called "Mountain City Stick and Stick Army" when she was a child. There was such a classic line in it,
"Third year female, hold gold bricks, sixth year female, enjoy the blessings, eighth female... Climb!"

Thinking of this, even though she knew it was not very polite, Xiao Yuejia was still happy in her heart.

It's fine if you lose to Qin Wan, between the two of you, there's no shame in losing.

But if he loses to his aunt who is eight years older, he can buy a piece of tofu and kill him.

Well, let's keep some morals, sister.

Men all know 'my sister is wonderful, my sister is good, my sister keeps you from worrying, my sister treats you like a treasure, and my sister has a high level of consciousness, and is a mature little wild cat'.

However, when it comes time to discuss marriage, the vast majority of men still choose their younger sisters.

Out of the corner of Yan Heng's eyes, he glanced at Xiao Yuejia who couldn't hide his joy beside him, and smiled slightly.

Little sister, if you want to beat Qin Wan, I'm afraid it's a bit difficult.

……

Half an hour, neither short nor long, passed quickly.

Wu Chuzhi got up and stood on the stage again, continuing the interrupted thesis statement.

After 30 minutes of careful study, everyone in the audience listened carefully to his statement even though there were some who disagreed with Wu Chuzhi's point of view.

At this moment, they also had to admit that Wu Chuzhi had the qualifications to discuss with them.

"After 1688, the parliament of the corrupt country and the banks established by the parliament to settle the royal debts have been able to ensure that these fiscal revenues will not be spent on the court and the emperor and queen's fun, but will be used directly to pay the government deficit. and Royal Navy spending.

...The Royal Navy has rapidly expanded to become the largest and most powerful naval force in the world, so it can protect the shipping of ships from corrupt countries, allowing merchants from corrupt countries to travel unimpeded around the world.

The result was a self-reinforcing virtuous circle, with taxes collected from trade being used for naval construction and military spending, which in turn opened up safer and wider shipping routes for merchants to trade.

……

If any country has reached such heights in industry and shipping by relying on the policy of protective tariffs and shipping restrictions, no other country can compete with it under free competition.

At this time, imagine on its behalf, the smartest way is to throw away the ladder it used to climb the high branches, and then preach to other countries the benefits of free trade. "

Looking at Wu Chuzhi, who was impassioned on the screen, and the other respondents outside the lecture hall, a deep sense of powerlessness gradually rose in his heart.

Those who can sit here are all the proud children of Shu University this year, and they are also the most hardworking people.

However, such a gap made them unstable.

It's not a good feeling to be a supporting role.

The 'adjournment event' in the lecture hall quickly spread on the campus BBS, and more and more melon eaters rushed to the lecture hall, wanting to see the 'monster' in style.

It is human nature to worship the strong, but Wu Chuzhi's performance made some people who were as decadent as him feel a sense of pride in their hearts.

"Did you see that buddy? He was still in the Internet cafe back then, leading us to attack Sabak in "Mythical World"..."

"Fuck! This scum who can eat and live in an Internet cafe for a week can do it, why can't I do it!"

As more and more people eat melons, the report building is already overcrowded, so the school simply broadcast the footage live on the big screens in the cafeteria and sports field.

Wu Chuzhi in the arena didn't know that at Shu University, he became popular again.

At this time, he was pacing and making a concluding speech, "Classical economics believes that only based on a certain amount of surplus products can a society produce in a roundabout way, the radius of division of labor can be continuously expanded, and production technology can be developed." Only through continuous improvement can labor effectiveness be continuously improved, thereby creating more wealth and value.

Fundamentally speaking, the development of a society must have sufficient surplus products or capital, and it needs to be allocated to places conducive to expanded reproduction.

……

At the same time, not only did classical economics attach great importance to surplus products and their input in production, but this thinking was also inherited by the Austrian school, which paid attention to the dynamic development of the market.

Menger, Wieser, and Böhm-Bawerk not only paid attention to the effect of high-level goods on the production of low-level goods, but Böhm-Bawerk further developed the roundabout production theory; Emphasized by Mises, Hayek, Rothbard, etc.

For example, Wieser points out: "Economic expectations face an intractable set of problems. Yet all these problems imply a rule that capital reserves must be preserved. Those who obey this rule and at the same time conserve their labor capacity, of course And be able to maintain the same benefit status all the time in the future."

Mises writes: "The superior position which the owner of property acquires only insofar as he has to invest the means of production in those spheres of production which are most needed by society.

If he doesn't -- or hoard his wealth -- then he will lose.If he does not correct or change his course in time, he will be mercilessly pushed down from his superior position, and he will cease to be a property owner.

Someone else more suited to the position than he would take his place, and only the most qualified could ever possess the means of production.

Whether they like it or not, they must constantly use their means of production where they can gain the greatest benefit. "

It can be seen that reviewing the thinking and theories of classical economics not only helps us reflect on the demand-pull growth theory of modern mainstream economics, but also helps us re-examine the "epochal nature" of economic development.

……

Obviously, to solve these problems, it involves income distribution, values, product structure, technical level, education structure and other aspects, which is also what 'supply-side management' needs to strive to solve.

That's what this article is about, and thank you all for listening. "

After finishing speaking, he bowed slightly, then stood on the stage and waited for the start of the debate.

There was a burst of applause in the back row of the lecture hall, and when the staff of the Academic Affairs Office were about to reprimand those troublemakers, Lin Yifu, the chairman of the defense in the front row, also stood up and clapped with a smile.

The staff of the Academic Affairs Office were startled when they saw this, smiled, and applauded accordingly.

This kind of undergraduate defense scene has never happened before, and it will be difficult to happen again in the future.

Times make heroes.

Perhaps, he felt, he was witnessing the rising of a rising academic star.

……

The applause was for the academic level of this young man. Although the literati were relatively light, Wu Chuzhi's age allowed the experts and scholars in the audience to show a greater degree of tolerance.

After all, it is the old-timers who want to save face.

However, doubts about its academic views are also indispensable.

As the chairman of the defense, Lin Yifu held back the strong doubts in his heart and gave up the opportunity to attack others.

"Hello, Wu Chuzhi, please answer positively. Does demand determine supply, or supply creates demand, thank you."

The person who raised the question was Professor Ding Chun from Wujiaochang Vocational and Technical College of Secretaries, who is also the Europa Jean Monnet Chair Professor.

This question is actually very friendly, and it gave me time to further elaborate my point of view.

Wu Chuzhi nodded with a smile, bowed lightly, and then began to talk, "We know that in the past 34 years, Huaguo's economy has maintained rapid growth.

There are of course many reasons for this.I think there are three most important ones. One is urbanization, which drives infrastructure construction and industrialization; the other is joining the WTO and becoming the world's factory.

The third reason, I think, is related to our national character. Confucian culture emphasizes hard work, frugality, and utilitarianism. Everyone wants to do a career and think about making money every day. This culture is especially suitable for economic development.

That's still a bit abstract.

Let me give you an example.For example... For example, my mentor, Mr. Zeng Huixian, makes a living by lecturing.Ask the teacher to forgive the students for making a joke of you. "

After finishing speaking, he bowed deeply in the direction of Zeng Huixian, Zeng Huixian waved her hand with a wry smile, signaling to the surrounding bosses that this villain is too stubborn.

Seeing this, Li Ka behind him blinked his eyes and said in a low voice, "Did you see it, learn from it, my little brother has such a sweet mouth."

Looking at the teacher whose back molars were coming out, Pi and the others had to agree, Shi Guangyong turned his head and said to Chu Jian, "Fourth, you didn't deserve to lose."

Chu Jian was so angry that his chest hurt, and everything could be blamed on him!
On the stage, Wu Chuzhi smiled and began to say, "So my husband is just a small production unit. What determines the output of my husband? Of course it is the total demand!

If the students have needs for the teacher's courses, please invite the teacher to come and give lectures. The greater the demand, the more the teacher will speak, and the greater the output of the teacher.If the students don't listen to the teacher's class, the teacher will only be idle, there will be no production, and the resources will be idle.

Therefore, students constitute a part of the total demand for Mr. courses, and they are consumption among the troika.

In addition, there are also publishing houses, booksellers, and Internet platforms who come to Mr. to buy his courseware and make products for sale. They also have demand for Mr.'s courses, which is called "investment".

Because they are not the final consumers, but to process and add value to Mr.'s products; export means that Mr. goes to other universities to lecture on the reform of state-owned enterprises, and Mr.'s books are printed and published in various languages.

Think about it, everyone, the total market demand for students cannot be just these three pieces, they determine the output of students.This is true for a production unit like your husband, and it is also true for a country and an economy.

Therefore, if a country wants to develop its economy, it will naturally think of expanding aggregate demand, because aggregate demand determines aggregate supply and a country's output.

It is the core point of Keynesianism to formulate economic stimulus policies and let the troika run.

At present, the most important means of stimulus in various countries are monetary policy and fiscal policy. For example, printing more money allows you to consume quickly, and the money in your hand will depreciate if you don’t spend it; lower the interest rate on funds so that you can borrow money to invest; If there is no investment, the government will issue bonds to raise funds for state-owned enterprises to invest. In addition, the government will launch some large projects, so that everyone has the opportunity to earn some money, and then spend and invest, and so on.

The question is, if the stimulus goes on like this, the troika will go crazy. Can aggregate demand really bring about an increase in production?

Going back to the example of Mr., if the demand for Mr.’s courses in the market is unlimited, everyone wants to listen to Mr.’s class, but Mr.’s output is still limited.

Why, because even if the teacher does not eat, drink or sleep for 24 hours, the teacher can only give at most two or three hundred classes a year.Therefore, if the output of the husband reaches the limit, it is useless for you to stimulate, and the output will not increase any more, because it is limited by the production capacity.

At this time, what will sir do?

The teacher will increase the salary of the teacher, and whoever bids the highest price will give lectures to him. What will happen in the end?

That is, Mr.'s output has not increased, but the price has increased.If the whole society is like this, then there will be stagflation, stagnation of economic growth, accompanied by inflation, overcapacity, and fiscal deficit. "

Wu Chuzhi's easy-to-understand explanation made the experts and scholars present and the melon-eaters outside the venue laugh, and then began to think.

"The question comes back to demand and supply. I said earlier that Keynesianism only considers short-term issues.

In fact, before Keynes was born, some economists believed that production determines distribution, exchange and consumption, and that aggregate supply determines aggregate demand, not the opposite as Keynes said.

For example, the more your company produces and sells more, your company will invest more, and your employees will have more money to spend. So in fact, total supply creates total demand.

So from the perspective of the supply side, what are the factors that determine long-term economic growth?There are mainly two, one is labor and the other is capital.

This is actually easy to understand. To engage in production, one needs a lot of manpower, and the other needs advanced tools.For example, my teacher can hire more staff to help her make PPTs and find materials; or buy better computers and software. Increasing the input of these elements will increase her course output.

Now we can also hear different voices. Many economists in the Huating academic circle where Professor Ding works believe that insufficient aggregate demand is a false proposition, and the problem of insufficient demand does not exist in the world.

There is no demand for your product because your product itself is not good, so the key is to adjust and upgrade the product structure, rather than to stimulate the total demand, that is to say, to carry out structural reforms on the supply side. "

Ding Chun took the lead and applauded. He is a firm supporter of the supply school. His question is actually giving Wu Chuzhi a platform and giving young people space to speak boldly.

Wu Chuzhi's answer was exactly what he wanted to hear, and he was not disappointed.

Where there is a platform, there will naturally be those who tear it down.

The first one to tear things apart came from our school, Professor Qiao Wanzhi, who was from a school different from Zeng Huixian's.

As a very old-fashioned person, Qiao Wanzhi has no objection to Wu Chuzhi's academic level, but has great opinions on Wu Chuzhi's academic attitude.

There is no humility that young people should have!
"Student Wu Chuzhi, the structure of your thesis is very loose! Why is there no reference? Do you think you are Mr. Qian Weichang?"

Wu Chuzhi smiled, walked over and pointed to his thesis, "Professor Qiao, as I said earlier in the thesis, this article does not need to refer to any literature."

Qiao Wanzhi's question seemed to many people to be critical, but Wu Chuzhi's answer made them feel Wu Chuzhi's "arrogance".

The last person to do this was Qian Weichang, a master of mechanics.

It is a remarkable achievement that after everyone sees the author's name, they immediately accept the setting of "this article does not need to refer to any literature" calmly.

But the grand master is qualified to do this, and you, Wu Chuzhi, a young man, what right do you have to say that?

Without waiting for them to attack, Wu Chuzhi explained bluntly, "The relevant theories in this article can be seen everywhere in ordinary economics textbooks, so I don't think it is necessary to write them out.

And my article is the first time to sort out and study the economic history of demand and supply, all of which are my own views, who do I quote?Xinhua Dictionary or Cangjie invented characters?

Of course I respect Mr. Qian Weichang, but can personalized expression not just be an 'academic privilege' for authoritative experts?Professors may wish to think more about it, is it possible for our academic system to accommodate more personalized expressions and individual differences from a mechanism?

An academic paper with research value must be written with enough practical research and enough professional argumentation and investigation.In addition, whether it is a seemingly "jumping" expression or a realistic description, there should be enough room for tolerance.After all, in the final analysis, academic research still has to serve the content. "

Wu Chuzhi's words made the students in the back row applaud, and the old professors in the front row were helpless.

……

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