Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324106 
Year of Publication: 
2024
Citation: 
[Journal:] PSL Quarterly Review [ISSN:] 2037-3643 [Volume:] 77 [Issue:] 309 [Year:] 2024 [Pages:] 145-172
Publisher: 
Associazione Economia civile, Rome
Abstract: 
Productivity seems an obvious concept: output per unit of input. Yet, when contextualised within alternative views of production and distribution, challenges across attempts at measuring it are far from trivial. The aim of this paper is to present and discuss some foundational concepts for measuring productivity from a classical perspective, as opposed to a more traditional standpoint. A key distinction is made between measuring productivity from the expenditure (or physical quantities) side and quantifying profitability from the value added (or income) side. Productivity is opposed to productiveness and commodity reduction is contrasted to price aggregation. After critically discussing the traditional standpoint of total factor productivity growth, this paper conceptually discusses the method of (growing) subsystems and the computation of production prices as analytical and empirical devices for measuring productivity and profitability in a multisectoral economy.
Subjects: 
Input-Output analysis
Prices of production
Productivity measurement
Vertical (Hyper-)Integration
JEL: 
O4
C67
B51
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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