National Accounts and Economic Value: A Study in Concepts

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National Accounts and Economic Value: A Study in Concepts

English | 2001 | ISBN: 0333733916, 9780333733912 | 193 Pages | PDF | 1.67 MB

Utz-Peter Reich addresses economists interested in a sound empirical foundation for their theoretical concepts. He investigates economic value and determines how value is defined in theory, which is microeconomic, and how it is measured in practice in national accounts. He demonstrates that microeconomic theory is not made to guide or interpret national accounts figures and he offers an alternative theory.

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