As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

The aging and declining population will have far-reaching impacts. Declining fertility rates will possibly increase immigration. The structure of family and society will inevitably change.

During the past two decades, inflation has fallen to a low level in major industrial countries.

With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.

The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.

Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge.

You wanna go build some shelves with me?

DNA tells you all the secrets of life, ’ he used to say. Except for one—how to live it.

Every disappointment is a spiritual awakening.

I built two forges when I was in my teens. I was just really, really into metalworking and making stuff.

Success comes to the man who grits his teeth, squares his jaw and says, "There is a way for me and, by jingo, I'll find it".

Genius is both the sail and the wind; that's why he continues his journey without stopping!

I'm more into, like, colour than, like, the type of car and stuff. I don't know much about cars, so I'm just more into picking the right color.

Hendrix inspired me, but I was still more into Wes Montgomery. I was also into the Allman Brothers around the time of those albums.

Knowing that you have working with you a force, which never yet has failed in anything it has undertaken, you can go ahead in the confident knowledge that it will not fail in your case, either.

We're all embers from the same fire. Our ember winks out, we're ashes, we go back to the fire.