This paper proposes a new production function to offer a Deus Ex Machina to save Becker's labor theory. It proves that training does raise labor's efficiency and does not need any external cost. Moreover, it proves that training is increasing returns to scale, without using any endogenous capital

This paper discovers that Frank Ramsey had turned his growth model upside down to obtain the opposite outcome from expected. Subsequently, this paper refines his upright model to derive all his dream results. When Ramsey's dream is correct, any other definition of growth must be rejected

Ramsey gets up one day early, pretends to be very busy the whole day, then goes to sleep. However, he accomplishes nothing. The integration of some differentiated results must take one back to the original function. Tautology always looks correct, but futile. The continuous preaching of such...

This paper works out the rights and wrongs of government spending, but disproves the extreme part of the modern monetary theory. Budget deficit definitely reduces saving. Budget deficit means running a losing business, thus it cuts your profit and saving. This paper also clarifies the confusion...

Modigliani and Brumberg (1954) discipline rich people to keep working. This paper use Ramsey's (1928) theory to argue for the opposite: Stop working and saving, instead donate part of the wealth to those needed

This paper proves that Diamond's growth theory is contradictory, for it contains two definitions of saving. When he dropped the first one and kept the second one, he made another mistake, for the second one is always zero

This paper rescues Spence from destroying his own theory: his conclusion of (workers preferring) no signaling. This paper proves that Spence's theory is nothing but a labor supply one. As such worker will increase labor and schooling quantity when wage rate is higher, not cost. This paper proves...