In recent years, there has been a resurgence of interest in the controversies surrounding capital theory. At the heart of these debates are the empirically observed near-linearities in the price-rate of profit and wage rate of profit curves. This article posits that these near-linearities can be...

This article using the principal components analysis identifies key industries and groups them into particular clusters. The data come from the US benchmark input-output tables of the years 2002, 2007, 2012 and the most recently published input-output table of the year 2019. We observe some...

The impact of artificial intelligence (AI) on business, government, and society is getting more attention. The leading AI sectors have higher productivity but a lower share of GDP than those lagging in digitization and AI. There is a technological gap, with still unknown consequences concerning...

It is frequently believed, in a quite schizophrenic fashion, that a theory of value must just solve the question of "relative prices" (a microeconomic problem), being mainly the theory of money the piece needed for determining the absolute or monetary level of prices (a macroeconomic problem)....

This paper explores the value concept to understand the notions of value and price that form the base of value theories. Since value is more appreciate than utility in explaining value creation and value distribution in the today’s society and economy, the theory of value is amended to conduct...

This article presents the results of the research on energy activities in Romania by highlighting the variants of the mix of energy resources, the mix of production alternatives, and ways of energy consumption. The uneven distribution of resource ownership in EU member states is a comparative...

This paper identifies a fundamental challenge in the development of input-output databases of the world economy intended for analysis of alternative scenarios with a model of the world economy. Primary data sources for individual economies generally do not use the same sectoral classification...

Eine international vergleichbare Quantifizierung der wirtschaftlichen Effekte der Digitalisierung wird seit Jahren von einer Arbeitsgruppe der OECD entwickelt und abgestimmt. Eine Umsetzung dieses Ansatzes findet ihre Grenzen in den eingeschränkt verfügbaren Daten. Eine auf dem OECD-Vorschlag...

We introduce a class of production function whose inputs and outputs constitute multiples of quality and quantity. Under the efficiency unit approach, we precisely reduce innovation regarding qualitative and quantitative improvements of production to the measurement of quality-adjusted...

In den entwickelten Volkswirtschaften ist das Produktivitätswachstum seit den 1970er Jahren tendenziell gesunken, zeigen die Statistiken–eine Beobachtung, die angesichts der weitreichenden Digitalisierung der Wirtschaft erstaunt. Sie könnte auf Messfehlern beruhen, ist sie aber realistisch,...