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The rate of return on capital for pension system in China

✍ Scribed by Yunyun Jiang; Ruoen Ren

Book ID
107384049
Publisher
SP Systems Engineering Society of China
Year
2006
Tongue
English
Weight
293 KB
Volume
15
Category
Article
ISSN
1004-3756

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Here it is shown how capital waste can be motivated under rate-of-return regulation, even when the marginal product of capital is positive. This result means that the sign of the marginal product of capital is not adequate as a basis for defining waste. The wasteful use of capital is motivated to av