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Product and Good

  • Kamen Mirkovich
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    A conceptual distinction was made between product and good as fundamental conceptions of economic theory and practice, considering the presumption, that the good is a wider phenomena that the product. A detailed systematization of both concepts is substantiated, as well as the effectuality and effectiveness related thereto. Therefore six classification types are attached: substantial, creative, functional, reproduction, object and systematic classifications. The distinction between the material and immaterial good is specified very precisely. The difference between the productive and unproductive labour is outlined, pointing out the groups of goods and products, for the generation thereof the labour is productive, or unproductive respectively. The non-traditional view is backed up, that the labour in science, education and medical services is productive and therefore creates not only new benefit, but a new value as well. The eventual adoption of this concept shall change the method of evaluation of the gross domestic product, the national income, the value added and the economic growth, as well as the method of determining the limit between the initial distribution and redistribution of incomes.

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    Article provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Thought.

    Volume (Year): (2011)
    Issue (Month): 4 ()
    Pages: 3-27

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    Handle: RePEc:bas:econth:y:2011:i:4:p:3-27
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