The Economic Metronome

Iliya Balabanov and Nikolay Ê. Vitanov

Economic Thought journal, 2010, issue 6, 3-33

Abstract: The economic metronome (IM) is a term for a mathematical formula of a set of fundamental interrelations of a key importance for the value-monetary expression among: the main factors of business activity of any kind; their productivity; the primary proportions in production, distribution, exchange and consumption of the commodities; the development rates of any activity. The formula is an attempt to create an instrument to measure more precisely the potential opportunity and the actually achieved efficiency of the business activity, for more-reliable forecast and projection of its development in the future at the stage of investments and innovations.

JEL-codes: B41 B59 C02 C62 D21 E6 (search for similar items in EconPapers)
Date: 2010
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