Lawrence R. Klein Lecture 1997: Needed: A Theory of Total Factor Productivity
评估了物质和无形资本差异能否解释国际收入差距，发现储蓄率差异不重要，全要素生产率才是关键，并指出需要一个新的理论来解释TFP差异。
This paper evaluates the argument that differences in physical and intangible capital can account for the large international income differences that characterize the world economy today. The finding is that they cannot. Savings rate differences are of minor importance. What is all-important is total factor productivity (TFP). In addition, the paper presents industry evidence that TFPs differ across countries and time for reasons other than differences in the publicly available stock of technical knowledge. These findings lead the author to conclude a theory of TFP is needed. This theory must account for differences in TFP that arise for reasons other than growth in the stock of technical knowledge. Copyright 1998 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.