The four 'worlds' of contemporary industry

Article Abstract:

Four ideal production worlds are constructed based on combination of technologies and markets, product qualities and resource use to illustrate the elements of industrial diversity. Each world is distinguished by product type, demand and technology conditions. However, these models are used to show that industrial diversity is a function of the product that results from the combination of these elements. The study indicates that transaction costs cannot completely account for the development of products utlizing certain resources according to a specific maximisation strategy.

Business-to-business market, Business to business market

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Strato-inflation and high inflation: the Brazillian experience

Article Abstract:

A study of inflationary process authored by D. Jackson, H. Turner and F. Wilkinson, referred as JTW, afforded a view of inflationary problems in advanced economies. The concept of strato-inflation by JTW predicted Latin America's inflation regime, which is a dysfunction due to pressure applied to institutions that permitted the existence of 'equilibrium inflation'. The relation between strato-inflation and high inflation, theoretical dynamics of high inflation and an illustration of a high inflation regime from Brazil are presented.

Brazil

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Labour employed in production and labour commanded: a Ricardian conjecture

Article Abstract:

The ambiguities in the analysis of the value and prices put forward by Smith in his book, Wealth of Nations are explained. This book is based on the assumption that the quantity of labor employed in production is the sole determinant of real price and exchange ratios.

United Kingdom, Labor economics, Cost benefit analysis, Labour economics

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