Physical Captial, Patent Systerm, R&D Cost And Macroecnonomic Grouth

Throughout the development of economics, although the study of national wealth and macroeconomic growth has been occasionally interrupted, it has indeed a long history。Since the "industrial revolution", the complex fact of global macroeconomic has spawned all sorts of modern economic growth models:From Harrod-Domar model, which emphasizes economic imbalances, and Neoclassical models, which emphasizes accumulation of capital, to the modern endogenous growth models, which emphasize the progress of technology; to recent researches which focus on government behaviors and institutional factors:Despite of different perspectives and emphases, the ultimate goal and fundamental task of modern economic growth models is, trying to give satisfactory explanations to the question of "the source of the vast growth over time per person ", and "the reason of the vast geographic difference in output per person, and its potential convergence mechanism"。 This paper focuses on two fundamental tasks of economic growth research, by combing and integrating the endogenous evolution system of current classical models, and generalizing its five research paradigm and four objective limitations, found that the conclusions of most modern mainstream models are not so satisfactory:they or cannot make a real answer to the source of long-term sustained economic growth, or cannot give a relatively reasonable explanation to the complicated convergence phenomenon of the world economy。Although the technology diffusion models of economic growth could give a relatively reasonable interpretation to the above questions, there is still objective drawbacks, such as "Lack of physical capital factors"、"Economic Ineffic iency arises from the complete monopoly assumption of advanced intermediate inputs"、and "Exogenous characteristics of R&D costs"。Therefore, theoretical correction and model reconstruction against those drawbacks above is the core task of this paperFirstly, this paper has made a strict conceptual distinction between fixed physical capital and intermediate input, of which the former is an economic stock, and the latter a flow rate, then without changing its Neoclassical characteristics, inserted physical capital into the production function of final products, thus solved the problem of "lack of physical capital factors" of the original model。Meanwhile, by using abstract measure of property rights and patent systems, including antitrust price controls, this paper corrected the complete monopoly assumption of intermediate product; thus, to some extent, weakened the "Neoclassical Economic Inefficiency characteristics" of the original model。this paper also strictly distinguished "groundbreaking technical progress", and " furthering technical progress ", introduced concepts of " thought depletion effects" and "R&D cornerstone effects" caused by technical progress, delved into the dynamic relationship between R&D cost and the current technical level。On the research conclusions, this paper argues that the traditional conclusion that "Capital accumulation has only level effect but no growth effect" hold up only when technical progress was ignored。If taking the indirect pull effects of demand for other inputs caused by physical capital deepening, namely the continuous accumulation of physical capital stock per capita, and its promoting effects on technology development into account, physical capital deepening or can become one of the main engines of long-term sustained economic growth。At the same time, in the form of mathematical model, this paper proved that, as monopoly profits of advanced technology is actually the main driving force of R&D, one-sided pursuit of neoclassical economic efficiency, to promote widespread use of existing technology with flexible property rights and patent system, may only be a short-sighted behavior of getting rapid economic growth in the short term at the expense of long-term equilibrium growth rate。Moreover, considering its non-realistic assumptions, take Neoclassical Economic Efficiency as a reference standard for the so-called "Inefficiency" itself is biased。If recognized that setting the extent of patent protection itself is a "two evils choose the light" process, there may be no "Economic Inefficiency" problem in the improved and reconstructed model。In addition, considering the complex relationship between R&D cost, including independent research and technology imitation, and the current technical level, and the random and dynamic characteristics of "groundbreaking "technical progress and" R&D cornerstone effect "itself, this paper argues that the complex phenomenon of worldwide Macroeconomic Convergence, even the so called "Economic Cycle", may not always come from deviation of the real economic from "Pareto Optimality", but the fluctuation of "Walrasian Equilibrium" itself。...