SAE Political Economy · Paper 5: Growth / SAE 政治经济学 第五篇: 增长

Accumulation grows by itself: money goes out as investment and comes back with a return; a position held long enough passes to the next person; a degree that enough people use becomes a door others must pass through. This paper asks how growth itself is to be read. This series is not against growth, and investment can provide conditions for people's cultivation; but growth must also be subject to checks, and once return is set in the place of the sole goal, it slides easily toward colonization. Four matters in the Kingdom State run through the paper: Elmseed Long-Term Partners invested in the veteran kiln worker's workshop and later reported an annualized return of four percent; Elmseed Buyout Fund, of the same Elmseed Capital, acquired Southwindow Care Homes and set a target of an annualized twenty percent over five years, and the night-shift care workers were cut from three to two; the founding family of Crossways keeps its Class B shares, at five votes per share, in the name of the family office, and the chair passed from the second generation to the third; Oakgrove College reserves twenty-five percent of its places for children of alumni and donor recommendations, while of those hired into management posts at Crossways and Sundial in Year 23, about eighty percent came from Oakgrove and two other colleges. Six propositions are established: investment can give conditions, whether it actually becomes cultivation is examined separately, and long terms, low returns and not appointing directors do not, each alone, certify it; the rate of return set as the sole goal is a signal to be examined, and only when it has acquired a standing that overrides guarding the line, cancels questioning and change of direction, or decides ends for the investee is it judged by its actual effects; the rate of return can be one of the goals, and is not the ultimate criterion; what passes down in inheritance and succession is the decision position and the votes, and recognition must be registered again; control arrangements must meet the three conditions of self-chiseling, and "having no term" is only a clue; when qualifications become a door they are a chokepoint, and the position that keeps the door is to be questioned. Along the way the paper is set against Friedman's 1970 article and Piketty's *Capital in the Twenty-First Century*: with the former it concurs in not giving return an unbounded place, and parts from it on where the boundary comes from; the comparison with the latter rests only on secondary accounts, lists the points that can be compared, and draws no conclusion of concurring or parting. The paper has six propositions (E26 to E31), each stated at the end of its section and listed together at the end. 积累会自己长大:钱投出去,带着回报回来;位置坐久了,传给下一个人;一张学位用的人多了,成了别人要经过的门。这一篇问长大本身怎样读。本系列不反对增长,投资可以为人的涵育提供条件;可增长也须被制衡,回报一旦被放到唯一目标的位置,就容易滑向殖民。全篇用王国州的四件事贯穿:榆钱长期合伙投了老窑工的窑坊,回报百分之四;同一家榆钱资本的并购基金收购南窗养老院,定下五年年化两成的目标,夜班护理员由三人减为二人;通衢的创办人一家把每股五票的 B 类股留在家族办公室名下,主席由第二代换到第三代;橡园学院把两成五的名额留给校友子女与捐赠者推荐,而通衢与日晷第 23 年管理岗的录用者,约八成出自橡园与另两所学院。立了六条:投资可以给条件,是否实际成为涵育另核,长期、低回报、不派董事都不单独认证;回报率被置于唯一目标,是一项须核的信号,取得了压过守线、取消追问与改向、替被投资者定目的的地位,才按实际作用判;回报率可以是目标之一,不作最终标准;继承与接任传下去的是决策位置与票,承认要重新登记;控制安排要满足自修凿的三项条件,"没有期限"只是线索;资质成了门时是一处关口,守门的位置要受问。随文与弗里德曼 1970 年那篇文章、皮凯蒂的《21 世纪资本论》对照:与前者同在不给回报一个没有边界的位置,分在边界从哪里来;与后者的对照只据二手转述,列出可对照之处,不作同在、分在的结论。全篇六条(E26 至 E31),各节末写出,篇末合列。 Related works Relation Identifier Scheme Resource type Title References 10.5281/zenodo.19328662 DOI Publication / Preprint How Is Institution Possible: From Inter-Ontological Remainder to Co-Constructive Framework (SAE Foundational Paper 6) References 10.5281/zenodo.23269635 DOI Publication / Preprint To Whom the Ought Is Addressed (SAE Institution Theory, Paper 1) References 10.5281/zenodo.23270384 DOI Publication / Preprint Not Crossing the Line (SAE Institution Theory, Paper 2) References 10.5281/zenodo.23271324 DOI Publication / Preprint Open to Questioning (SAE Institution Theory, Paper 6) References 10.5281/zenodo.23413511 DOI Publication / Preprint Questioning and Bearing (SAE Theory of Government, Paper 6) References 10.5281/zenodo.20368866 DOI Publication / Preprint What Power Is Not · Shi (SAE Power Theory, Prequel) References 10.5281/zenodo.20455221 DOI Publication / Preprint On the Morphology of Power · Shi (SAE Power Theory, Paper 2) References 10.5281/zenodo.21093939 DOI Publication / Preprint The Interface and Transformation between Recognition-Based Rights and Power (SAE Rights Theory, Paper 4) References 10.5281/zenodo.21252863 DOI Publication / Preprint On the Cultivation and Diachronic Unfolding of Rights (SAE Rights Theory, Paper 6) References 10.5281/zenodo.19358010 DOI Publication / Preprint Four Layers of Economic Rationality: A Diagnostic Extension of the Rational Agent from Dimensional Sequence Theory (SAE Economics, Paper 1)