Whereas the measurement of tangible assets, e.g. cost of sales or raw material, used to be one of the main issues of business in the past, the focus has now shifted towards intangible assets such as the knowledge potential of a firm's knowledge workers. Against this background, the measurement...

Demographic change belongs to the mega-trends of the 20th and the 21st century. The ongoing aging process in major industrialized countries gives rise to the relative scarcity of raw labor and the relative abundance of physical capital. Standard macroeconomic models suggest that this depresses...