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Economy of Unnecessary Output (Institutional Characteristics of the Circuit of Losses)

Listed author(s):
  • Blokhin, Andrey

    ()

    (Institute of Economic Forecasting, Russian Academy of Sciences)

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    The paper deals with the mechanisms of transformation of stochastic economic losses into a stable pattern of “empty” or “bubble” prices not backed up with costly goods and services. The author explains how mistakes in economic activity and business objectives often accumulate and lead to system distortions of economic information, structural disparities, institutional traps and other negative effects. The author considers this combination of mechanisms as an “useless product economy”. Those occasional losses are present in any economy. However, a significant increase in such losses is dangerous and can lead to crises. The author considers the methods of description, prevention and elimination of unnecessary production.

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    File URL: ftp://w82.ranepa.ru/rnp/ecopol/ep1515.pdf
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    Article provided by Russian Presidential Academy of National Economy and Public Administration in its journal Economic Policy.

    Volume (Year): 1 (2015)
    Issue (Month): (February)
    Pages: 7-40

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    Handle: RePEc:rnp:ecopol:ep1515
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    1. Гимпельсон В. Е. & Капелюшников Р. И. & Лукьянова А. Л., 2007. "Спрос На Труд И Квалификацию В Промышленности: Между Дефицитом И Избытком," Higher School of Economics Economic Journal Экономический журнал Высшей школы экономики, CyberLeninka;Федеральное государственное автономное образовательное учреждение высшего образования «Национальный исследовательский университет «Высшая школа экономики», vol. 11(2), pages 163-199.
    2. Блохин А. А., 2012. "Институциональные Рамки И Факторы Экономического Роста В России В Перспективе," Studies on Russian Economic Development Проблемы прогнозирования, CyberLeninka;Федеральное государственное бюджетное учреждение науки Институт народнохозяйственного прогнозирования Российской академии наук, issue 6, pages 52-59.
    3. Капелюшников Р. И., 2000. "Российский Рынок Труда: Адаптация Без Реструктуризации," Studies on Russian Economic Development Проблемы прогнозирования, CyberLeninka;Федеральное государственное бюджетное учреждение науки Институт народнохозяйственного прогнозирования Российской академии наук, issue 5, pages 69-93.
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