About Author

Bao Haisong, graduated from Guangxi University, has been working in research institutions for a long time, mainly engaged in macroeconomic research, and has studied and compared the laws of economic and social development of countries around the world for many years. On the basis of drawing on and referring to the research achievements of scholars at home and abroad, he has made some new views on the operation of macro-economy, including The Truth of Prosperity (China Economic Publishing House), Who Will Save the World Economy (China Development Publishing House), etc. 包海松，毕业于广西大学，长期在研究机构工作，主要从事宏观经济学研究，对世界各国经济、社会的发展规律进行了多年研究、比较，在借鉴和参考国内外学者研究成果的基础上提出了关于宏观经济运行的一些新观点，著有《繁荣的真相》(中国经济出版社)、《谁来拯救世界经济》（中国发展出版社）等。

Book Description

As an attempt to revise macroeconomic theory, this book provides a fresh perspective on the development of the global economy and the difficulties confronted. In addition, the book establishes a new analytical framework to better explain the Great Depression, why Japan is Mired in stagnation, what is wrong with American society, China's economic difficulties and other hot issues of global concern. With the global economy in systemic trouble, the solutions of governments and academics are not getting to the root of the problem. In fact, instead of resolving the crisis, these measures are building up risks. Economic development will experience two different states, respectively presenting different economic phenomena and operation rules. Distinguishing between the two states of the economy is the key to understanding economic phenomena and rationalizing the transition from boom to bust. The traditional economic theory is only applicable to the conventional state and cannot explain the economic phenomena in the unconventional state, and the economic crisis often occurs in the unconventional state. 本书是对宏观经济理论进行修正的一次尝试，以新的视角对全球经济的发展历程与面临的困境进行了全新解读。通过建立新的分析框架较好地解释了经济大萧条、日本为何深陷停滞、美国社会出了什么问题、中国面临的经济困境等全球关注的热点问题。全球经济正在深陷系统性困境，各国政府与各路专家学者的方案都没触及问题的根源，各种手段非但没能化解危机，相反还在使风险不断累积。经济发展会经历两种不同的状态，分别呈现出不同的经济现象与运行规律，分清经济的两种状态是理解各种经济现象以及合理解释经济从繁荣到停滞的关键，传统经济理论仅适用于常规状态，无法解释非常规状态的经济现象，而经济危机往往发生在非常规状态。