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Productivity looms large in public policy discussions yet many find themselves hard-pressed to explain exactly what the term means. Even within economics, its nature and significance is contested and the focus of complex debate. Michael Haynes cuts through the jargon and political sloganeering to provide a detailed examination of the concept, how it is used and why it is held by economists to be so important in evaluating the health of economies.
The book explores why productivity grows or fails to grow in certain contexts, in particular how real world variables can interact with measurements of efficiency and output. The difficulties of measuring its scope are examined alongside the larger question of whether growth in productivity is sustainable, both at the level of national economies and globally. Whether productivity remains the motor of economic growth that it once was and continues to be the most appropriate economic indicator for modern economies is shown to be a key consideration.
For anyone searching for a clear, engaging and level-headed guide to one of the most important metrics for understanding economic growth, this book will be warmly welcomed.
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This book reveals the results of original research into the productivity of economies from the theoretical and empirical points of view. Urgently, the current economic situation around the world is characterized by a tendency towards a slowdown of productivity, caused by, on the one hand, the digitalization of economic processes, and, on the other, by the consequences of COVID-19. This volume will be useful for researchers and PhD students, policymakers and economists, sociologists and philosophers, who are engaged in studying the interdisciplinary problems of the productivity of economies, and searching for new ways of thinking.
Economic development --- Production (Economic theory) --- History
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This highly original book develops a systematic zero-net-profit comparative statics theory of the firm that challenges many widely held views in microeconomics. It builds a bridge between the marginalist long-run theory of the firm and Sraffian theory to create a unified theoretical framework that explains how firms react to exogenous shocks resulting in new equilibrium positions of the whole economy. The central message of the book is that too often economists expect more from the microeconomic laws of input demand and output supply than they can really give. The authors show that the zero-net-profit condition requires a more articulated analysis that sometimes yields qualitative results contrary to those of familiar economic laws. Written for academic researchers and graduate students, the book will be of particular interest to those working on the microeconomics of industry equilibrium, comparative statics and Sraffian economics.
Microeconomics --- Production (Economic theory) --- Managerial economics --- Microeconomics. --- Managerial economics.
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Production (Economic theory) --- Economics --- Technology --- Industrial management --- Economic aspects
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In 2014, the U. S. government adopted a new quarterly statistic called gross output (GO), the most significance advance in national income accounting since gross domestic product (GDP) was developed in the 1940s. The announcement came as a triumph for Mark Skousen, who advocated GO nearly 25 years ago as an essential macroeconomic tool and a better way to measure the economy and the business cycle. Now it has become an official statistic issued quarterly by the Bureau of Economic Analysis at the U. S. Department of Commerce. In this new revised edition of Structure of Production, Skousen shows why GO is a more accurate and comprehensive measure of the economy because it includes business-to-business transactions that move the supply chain along to final use. (GDP measures the value of finished goods and services only, and omits B-to-B activity.) GO is an attempt to measure spending at all stages of production. Using GO, Skousen demonstrates that the supply-side of the business spending is far more important than consumer spending, is more consistent with economic growth theory, and a better measure of the business cycle.
Production (Economic theory) --- Macroeconomics. --- Economics --- Microeconomics --- Supply and demand --- Demand (Economic theory) --- Supply-side economics --- Macroeconomics --- E-books --- Production (Economic theory). --- BUSINESS & ECONOMICS / Accounting / Financial.
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Demand (Economic theory) --- Manufacturing industries --- Industries --- Manufactures --- Supply and demand --- Production (Economic theory) --- Forecasting --- E-books
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Agriculture --- Agricultural productivity --- Factors of production --- Production factors --- Production (Economic theory) --- Economic aspects --- E-books
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Supply-side economics. --- Supply-side economics --- History --- Laffer, Arthur B. --- Reaganomics --- Economics --- Production (Economic theory)
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This work explores the changing place of consumption as a source of investment in production and growth within economic writings from ancient history to the present. This project is carried out with great skill, vigour and originality and will help to bring consumption studies to the mainstream of economic thought.
Consumers. --- Consumption (Economics). --- Economics -- History. --- Production (Economic theory). --- Consumption (Economics) --- Production (Economic theory) --- Economic Theory --- Business & Economics --- Consumer demand --- Consumer spending --- Consumerism --- Spending, Consumer --- Microeconomics --- Supply and demand --- Demand (Economic theory) --- Supply-side economics
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Organizations frequently rely on the support of external parties to access necessary resources. In many cases, the resulting buyer-supplier relationships last for decades; some might even become indispensable for one or both parties in achieving its desired business goals. These dependencies between organizations are ubiquitous. This book focuses on such instances, discussing them in a cumulative manner: It begins with an introduction of previous research on the issue, before empirically explaining the emergence of dependencies, their different forms of existence and management approaches as well as its development over time. This book is of special interest for scholars focusing on dyadic partnerships within the domains of industrial marketing, supply chain management or strategic purchasing. Practitioners involved in managing long term buyer-supplier relationships in goods- as well as service-oriented industries might find it insightful as well.
Supply-side economics. --- Reaganomics --- Economics --- Production (Economic theory) --- Leadership. --- Business Strategy/Leadership. --- Ability --- Command of troops --- Followership
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