The Economics of Speed: Machine Speed as the Key Factor in Productivity

This is the first book to examine the nuts and bolts of production processes. It proposes a truly consilient approach to modeling production processes one that goes beyond the vague principles found in standard economics and provides details that are consistent with the applied mechanics and engineering literature. Providing a credible analysis of some of the most pressing questions of our era, such as the productivity slowdown and the information paradox, and bridging the gap between engineering, applied physics, economics, and management science, this book is a fascinating read for anyone interested in industry, the modern economy, and how physical factors constrain productivity growth.

Provides a unique analysis of production systems Is the only book to combine kinematics and analysis of machine speeds in productivity Offers an important contribution to the knowledge that will drive productivity growth in the future

Auteur
Bernard Beaudreau is a professor and program director in the Department of Economics, University of Laval, Canada. In recent decades, he has focused his work on the underpinnings of productivity growth, with a special emphasis on the physics (mechanics and thermodynamics) of the underlying production processes.

Contenu
Chapter 1. Introduction.- Chapter 2. The Trouble with Production Theory.- Chapter 3. The Economies of Speed, KE=1/2mv 2 and the Productivity Slowdown.- Chapter 4. The Kinetics Approach to Production: Theory and Evidence.- Chapter 5. The Profitability of Speed-Ups.- Chapter 6. The End of the Age of Speed and The Productivity Slowdown.- Chapter 7. The Physical Limits to Economic Growth by R&D-Funded Innovation.- Chapter 8. Speed and the Great Depression.- Chapter 9. Summary and Conclusions.