Among the key lessons, it appears that the United States has productivity gains greater than those of Europe and that capital moves from poor countries to rich countries.
Many results of economic analysis are based on the hypothesis that scale yields are decreasing (if the size of the production is great, the efficiency of companies, the productivity of the global factors is reduced).
But, in reality, it is likely that scale yields are growing, due to the presence of fixed costs, learning effects.
If scale yields are growing, we understand:
- that the United States has productivity gains greater than those of Europe;
- that capital move from poor countries to rich countries;
- that protectionism is necessary for the “emerging” industries to develop in countries which have lagged behind (this applies in particular today to the new technology industry);
- that a restrictive practice of competition rules leads to low growth.
