Vaevictis
4/10/2008, 08:36 PM
Was reading my economics book, and came across this passage:
Researchers Murphy, Shleifer and Vishny (to widespread amusement in the economics profession) actually do identify lawyers as rent seekers. They also identify engineers as entrepreneurs, and suggest the number of students enrolled in engineering courses as a measure of how much talent a society allocates towards value-added endeavors. Using these definitions, they studied the growth performance between 1960 and 1985 of 91 countries to determine the influence of student enrollments in engineering and law on economic growth. The results suggest that every 10% increase in engineering enrollment boosts growth by 0.5% and that every 10% increase in legal enrollments lowers growth by 0.3%
Thanks a lot, Homey. If we go into a recession, it's all YOUR fault. :mad: :mad: :mad:
:D
Researchers Murphy, Shleifer and Vishny (to widespread amusement in the economics profession) actually do identify lawyers as rent seekers. They also identify engineers as entrepreneurs, and suggest the number of students enrolled in engineering courses as a measure of how much talent a society allocates towards value-added endeavors. Using these definitions, they studied the growth performance between 1960 and 1985 of 91 countries to determine the influence of student enrollments in engineering and law on economic growth. The results suggest that every 10% increase in engineering enrollment boosts growth by 0.5% and that every 10% increase in legal enrollments lowers growth by 0.3%
Thanks a lot, Homey. If we go into a recession, it's all YOUR fault. :mad: :mad: :mad:
:D