Debt and Economic Growth
It is a universal rule that quantitative accumulation will ultimately lead to qualitative transformation and, during this process, there is an turning point where the former ends and the latter starts. The point can demonstrate how things’ natures change at the junction between two phases. In view of mankind’s current cognitive capabilities, such a turning point can be deduced from adequate data through mathematic, metrological and modelling methods, based on which we can assess theories concerning the past and the future. This is a modern technique applicable to all scientific studies, including those of the social sciences. Present day economic studies can pinpoint the turning points of many economic phenomena in their evolutionary processes, providing some guidance on policies and strategies.