Generate QR code
Open Access
Subscription Access
Economic Measurement and Fundamental Theory
https://doi.org/10.32609/0042-8736-2005-10-25-39
Abstract
The article discusses one of the fundamental problems of economic science - the problem of measuring dynamics of inflation and real product. It is argued that the conventional approach according to which inflation can be measured with so called general price index is theoretically unsound because it contradicts the essence of money as the universal measure of value of commodities and services. Inflation as a money phenomenon must be measured not with general but with particular price index, which determines movement of prices in the group of commodities and services, the needs in which have reached the level of saturation. This result is especially topical under acceleration of the quality change growth in the economy.
References
1. Делепляс Г. Лекции по истории экономической мысли. Европейский подход. Новосибирск, 2000.
2. Ключевский В. Собрание сочинений в девяти томах. Том 8. М.: Мысль, 1990
3. Окрепилов В. Менделеев и метрология. СПб.: Издат. дом “Измайловский”, 2003.
4. Фишер И. Построение индексов. М.: ЦСУ СССР, 1928.
5. Шумпетер Й. История экономического анализа. СПб.: Библиотека “Экономической школы”, 2001.
6. Шумпетер Й. Теория экономического развития. М.: Прогресс, 1982.
7. Baumol W. Red-Queen Games: Arm Races, Rule of Law and Market Economies // Journal of Evolutionary Economics, 2004, vol. 14, No 2.
8. Boskin M., Dulberger E., Gordon R., Griliches Z., Jorgenson D.Toward a More Accurate Measure of the Cost Living: The Final Report of the Advisory Commission to Study the Consumer Price Index. December 4, 1996 (updated version).
9. Freeman C., Perez C. Structural Crises of Adjustment. Business Cycles and Investment Behavour. In: Dosi G., Freeman C., Nelson R., Silverberg G., Soete L. (eds.). Technical Change and Economic Theory. London, Pinter, 1988, p. 38–66.
10. Gordon R. Apparel Prices and Hulten/Bruegel Paradox, Revised, June 2004.
11. Gordon R., Griliches Z. Quality Change and New Products // American Economic Review, 1997, vol. 87, No 2.
12. Gordon R., van Goethem T. A Century of Downward Bias in the Most Important Component of the CPI: The Case of Rental Shelter, 1914–2003.
13. Moulton B., Moses K. Addressing the Quality Change Issue in the Consumer Price Index // Brookings Papers on Economic Activity, 1997, No 1, 305–349.
14. Nordhaus W. Quality Change in Price Indexes // Journal of Economic Perspectives, 1998, vol. 12, No 1, Winter, p. 59–68.
15. Pasinetti L. Structural Economic Dynamics. Cambridge University Press, 1993.
16. Saviotti P. Variety, Growth and Demand // Journal of Evolutionary Economics, 2001, vol. 11, No 1, p. 123–124.
17. Thurow L. Creating Wealth. The New Rules for Individuals, Companies and Countries in a Knowledge-Based Economy. N.Y.: Harper Collins, 1999.
Review
For citations:
Maevsky V. Economic Measurement and Fundamental Theory. Voprosy Ekonomiki. 2005;(10):25-39. (In Russ.) https://doi.org/10.32609/0042-8736-2005-10-25-39
Views:
1000
Email this article 
