Institutions and Their Economic Activities

Utz-Peter Reich

Chapter 3 in National Accounts and Economic value, 2001, pp 32-64 from Palgrave Macmillan

Abstract: Abstract In this chapter we investigate the source of economic value: production. We show how national accounting relates the value transactions between economic agents to ‘value added’, as it is called internally, and how the duality of transaction and transformation is reflected in the duality of the enterprise as an institutional unit and the establishment as a functional unit of observation. This leads to the main theoretical question treated in this chapter: how to define production.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51290-0_3

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DOI: 10.1057/9780230512900_3

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