The Nobel Prize winning Economist Robert Solow died recently at the age of 99. Back in the 1950s, he created the Solow model of economic growth of a nation. The model is almost like a nature law such as that of Newton and Einstein excedpt it deals with the economic law of growth and has noting to do with political ideology. It applies to both socialist and capitalist countries in the same way (just like Newton/Einstein law operates the same way in the solar system as in any other star system). Of course, like Newtion's or Einstein's laws, not everyone understand the "how and why" the Model/Law works in detail. But we all believe in its validity. Today, I just read a simple explanation of the Solow's model/law using the economic growth history of China for the past half century
https://www.noahpinion.blog/p/what-the-solow-model-can-teach-us?utm_source=substack
as an example. It really taught me, an non-economists, something. Well worth reading and reflection!
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