The Measurement of the Physical Volume of Production

Arthur F. Burns

The Quarterly Journal of Economics, 1930, vol. 44, issue 2, 242-262

Abstract: Introduction. — I. Development of a measure of the physical volume of production on the basis of the concept of production in general economic theory, 243. — The "index" and "deflating" methods, 244. — II. The relation between the economic quantities "production" and "national income," 247. — III. The necessity of including the value factor in measures of physical production and the consequent shortcomings of such a measure, 250. — IV. Other limitations of a measure of physical production, 257. — V. Conclusions, 261.

Date: 1930
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