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.

List of contents

Chapter 1. Introduction.- Chapter 2. The Trouble with Production Theory.- Chapter 3. The Economies of Speed, KE=1/2mv² 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.

About the author

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.

Summary

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.

Product details

• Authors: Bernard C Beaudreau, Bernard C. Beaudreau
• Publisher: Springer, Berlin
• Languages: English
• Product format: Hardback
• Released: 01.01.2019
• EAN: 9783030267124
• ISBN: 978-3-0-3026712-4
• No. of pages: 122
• Dimensions: 156 mm x 14 mm x 242 mm
• Weight: 327 g
• Illustrations: XVI, 122 p.
• Series: Lecture Notes in Production Engineering; Lecture Notes in Production Engineering
• Subjects: Natural sciences, medicine, IT, technology > Technology > Miscellaneous; B, Economics, Fertigungstechnik und Ingenieurwesen, energy systems, engineering, Production, Energy Grids and Networks, Industrial Organization, Energy technology & engineering, Manufactures, Management of specific areas, Manufacturing, Machines, Tools, Processes, Engineering economy, Production engineering, Machines, Tools, Processes, Engineering Economics, Organization, Logistics, Marketing, Engineering economics, Industrial Management, Production management, Economics of industrial organisation, Production & quality control management