The Economic Metronome

Iliya Balabanov and Nikolay Ê. Vitanov

Economic Thought journal, 2011, issue 7, 3-30

Abstract: The “Economic Metronome” (EM) is a term, used for the mathematical formula of a set of fundamental interrelations of key importance for the monetary-value expression among: the main factors of economical activity of any range; their productivity; the primary proportions in production, distribution, exchange and consumption of the output commodity product; the speeds of development of the activity. The formula is an attempt to design an instrument for more accurate measurement of the potentially possible and the actually achieved efficiency of economical activity, as well as for more reliable forecasting and projecting its further development on the investment-innovative stage.

JEL-codes: B41 B59 C02 C62 D21 E6 (search for similar items in EconPapers)
Date: 2011
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