The equation for the slope of an experience curve is (1/m-1)*(1-exp(-kg*t)) or
(SF-1)*(1-exp(-kg*t)), where: t is time typically years, kg is the exponential growth rate

constant, SF is scale factor from the slope of an xy plot of scale of the facility vs investment

 in constant dollars, m is the number of dimensions of the production facility eg. 1 for linear

 like a pipe line, 2 for an area facility like a plate and frame filter press, and 3 for a volumetric

 facility like a tank. For a mature product slope becomes (1/m-1) or (SF-1).

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The post titled “Money” shows the GNP or money=k*(employed)^4 and volume=k*(employed)^2.16 and

price=k*(employed)^1.84. In the context of these posts the number of dimensions of the production

facilities, m=2.16 and the price exponent is (4-m). Differenting by parts results is the fraction of the change

in GNP that is real growth is m/4 and the part that is inflation is (4-m)/4. The value of m therefore determines

the fraction that is inflation and real growth. The value of m determine the fraction that is real growth, namely;

m=1 results in 25% real growth,

m=2 results in 50% real growth

m=3 results in 75% real growth.

Obama’s and others “put people to work” with bail-out government money will not help the economy much if

the number of dimensions of  those activities is low (e.g. a shovel in hand ditch digger) vs. high

(like building a petrochemical plant).