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

Description

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. Front Matter ....Pages i-xvi Introduction (Bernard C. Beaudreau)....Pages 1-4 The Magic Hand of Speed: A Historical Account (Bernard C. Beaudreau)....Pages 5-28 The Kinetics Approach to Production (Bernard C. Beaudreau)....Pages 29-55 Speed-ups: Logistics and Profitability (Bernard C. Beaudreau)....Pages 57-70 The End of the Age of Speed and the Productivity Slowdown (Bernard C. Beaudreau)....Pages 71-88 Machine Speed and the Great Depression (Bernard C. Beaudreau)....Pages 89-118 Summary and Conclusions (Bernard C. Beaudreau)....Pages 119-122