2. S&P 500 Index price returns
From January 1981 to October 2016
Source:FIDELITY VIEWPOINTS –2016/10/26, YCharts.
3. The Backdrop: The Global Macroeconomic Scene (1995)
Gross Domestic Product and Current Account Surplus
(billions of chained 2005 U.S. dollars, except population)
Emerging Low-Wage
Surplus and Energy-
Exporting Nations
(ELOWASEENS)
USA, Canada,
and EU
Japan
Population:1.639billion
Current Account
Deficit:-8
GDP:21,190
GDP:6,510
GDP:2,820
Source:The Age od Oversupply, Daniel Alpert, 2013, P.49
Global
Macroeconomic
Intersection
Current Account
Deficit:-122 Population:775 million
Current Account
Surplus:137
Population:125 million
Notes:
(1) ELOWASEENS include China, Russia, Saudi Arabia, Singapore,
Kuwait, South Korea, Malaysia, Thailand, Qatar, Nigeria,
Venezuela, and Libya.
(2) Country group boxes sized to relative population.
(3) GDP and Current Account arrows show relative size.
4. Japan
GDP:28,462
GDP:4,239
GDP:5,889
Population:128 million
The Backdrop: The Global Macroeconomic Scene (2006)
Gross Domestic Product and Current Account Surplus
(billions of chained 2005 U.S. dollars, except population)
Emerging Low-Wage
Surplus and Energy-
Exporting Nations
(ELOWASEENS)
USA, Canada,
and EU
Global
Macroeconomic
Intersection
Population:1.804 billion Population:821 millionCurrent Account
Deficit:-813
Current Account
Surplus:618
Current Account
Surplus:167
Huge Emerging Marginal(4):
India(2006)
Population:1.15 billion
GDP:950 bil
CA Deficit-9 billion
Brazil(2006)
Population:187million
GDP:1,050 bil
CA Surplus +13 billion
Source:The Age od Oversupply, Daniel Alpert, 2013, P.56
Notes:
(1) ELOWASEENS include China, Russia, Saudi Arabia, Singapore,
Kuwait, South Korea, Malaysia, Thailand, Qatar, Nigeria,
Venezuela, and Libya.
(2) Country group boxes sized to relative population.
(3) GDP and Current Account arrows show relative size.
(4) Indian and Brazilian current account deficits have since
widened, to (current dollars) - $52 billion (2010) and -$53
billion (2011), respectively. The GDP of India and Brazil have
since skyrocketed, however, to 2011 levels of $1.85 trillion
and $2.45 trillion, respectively (current dollars).
5. Sirivat Voravetvuthikun went broke during the crisis and now sells sandwiches
on the streets of Bangkok.
New York Times. 2007. “Asia’s Long Road to Recovery”JUNE 28,
6. 經濟發展與社會福祉
Adam Smith (1723-1790)
• 道德情操論 The Theory of Moral Sentiments(1759)
個人幸福:審慎的美德(The Virtue of Prudence)
他人幸福:公平的美德(The Virtue of Justice)
仁慈的美德(The Virtue of Beneficence)
• 國富論 The Wealth of Nations (1776):
審慎與公平:以此為基礎,主張包含以下特色的自由市場經濟:勞動分
工、生產競爭、反對壟斷
仁慈: 必須出於自願。近年逐漸發展成企業社會責任(Corporate Social
Responsibility)與社會責任企業 (Social Enterprise)兩大支柱
市場經濟蒙恩的根基
資料來源:孫震,2006,《經濟發展的倫理基礎》