One partial result of this is that production in Europe has in many places become more labor intensive, with the capital to labor ratio tightening markedly.

So a country where labor productivity is low will become an attractive location for foreign direct investment, and the resulting increase in the capital labor ratio will raise productivity.

Because of the capital utilization effect, the capital labor ratio would not, in fact, decline, and hence there would be no significant effect on the marginal productivity of hours worked.

Some fear that extending the workday will not produce more jobs because the resulting expansion of hours worked will reduce the capital labor ratio.

That said, the ratio of capital formation does require careful monitoring.

The traditional boundaries between labor and capital are becoming blurred.

Free movement of goods, services, labor, and capital certainly suffices.

As capital is globalized, so basic labor standards should be global.

In the end, mobility of capital compensates for lower labor mobility.

Capital, land and labor are the three key factors of production.

Capital, land and labor are the three key factors of production.

And a lower growth rate implies that less investment is needed to maintain the capital output ratio.

Moreover, there must be greater balance between capital intensive and labor intensive activities.

A more balanced agenda would balance attempts to ease capital flows with efforts to facilitate the flow of labor, including unskilled labor.

When that capital inflow stopped, asset prices in Greece fell, and so did demand for labor in the capital goods sector.

Moreover, this tendency should have been accentuated by the fact that the productivity shock reflected a decline in the global capital to labor ratio implied by the integration of Chinese and Indian workers into the global economy.

This is reflected in the current investment ratio for real capital assets of 43 of GDP, compared to 4.3 investment in human capital in the form of education.

Second, the early success of China infrastructure was built on cheap land, capital, and labor.

Moreover, most of the observed growth was generated by capital rather than labor intensive sectors.

The single market principle was supposed to promote the efficient allocation of capital and labor.

Reckless balance sheet expansion in pursuit of profit is kept in check if financial companies adhere to statutory capital requirements, which mandate a capital asset ratio of about 8 .

And, because it is difficult to tax capital efficiently, Europe has imposed exorbitant levies on labor.

By contrast, in medieval England, typical tax rates on labor and capital income were 1 or less, and labor and product markets were free and competitive.

Moreover, it had access to some of the world s cheapest capital and labor, in an industry where labor accounted for more than 60 of manufacturing costs.

Although high growth requires large scale capital formation, the relation between investment in real capital assets and human capital in China seems to be out of proportion. This is reflected in the current investment ratio for real capital assets of 43 of GDP, compared to 4.3 investment in human capital in the form of education.

A larger capital stock would mean thicker markets, a finer division of labor, and a more productive economy.

China could usefully explore shifting part of the burden from labor toward property, capital gains, and inheritance taxes.

China could usefully explore shifting part of the burden from labor toward property, capital gains, and inheritance taxes.

And most capital spending will continue to be devoted to labor saving technologies, again implying limited job creation.

More fundamentally, creating the regulatory institutions conducive to ownership separation may be impossible unless a society's political orientation towards labor and capital is more favorable to capital.

While the manufacturing approach served China well for 30 years, its dependence on capital intensive, labor saving productivity enhancement makes it incapable of absorbing the country s massive labor surplus.

Whatever got Silicon Valley going, its advantages in attracting quality labor and venture capital multiplied as the region grew.

One example is Xue Jifeng, a labor rights activist detained by police in Zhengzhou, the capital of Henan province, in December 1999 for attempting to meet with other labor activists.

In addition to the tough new regime of personal accountability, the commission would supplement the Basel standards on bank capital with a tight leverage ratio.

The weight ratio of iron to silicon is 1.05 1.27 in Ganymede, whereas the solar ratio is around 1.8.

That means that China is beginning to rejoin the human race as capital accumulation meets scarcer labor and growth slows.

Nor has it liberalized labor and product markets, and it maintains strict control over the exchange rate and capital account.

In theory, global economic integration implies a world where the markets for goods, services, capital, and labor are perfectly integrated.

Lumpy Labor

Labor Policy.

First, capital requirements should be set as a straightforward ratio of common equity to total assets, thereby abandoning all reference to banks own risk management models.

In Africa, the ratio is 900 per 100,000.

In Switzerland, the leverage ratio is now central.

What's the student teacher ratio at your school?

The Golden Ratio is found everywhere in nature.