Tuesday, October 11, 2011

ECONOMICS FOR REAL PEOPLE: Production versus Consumption ... and more [updated]

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Our friends at the UoA Economics Group just sent me through their update on tonight’s meeting:

Hello all,

“Progress is movement in the direction of a higher, better and more desirable state of affairs.” Growth? Not so much. Join us tonight as we discuss the difference between progress and growth, wealth and production, productive consumption and UNproductive consumption.

It will help us next week when we discuss the GDP Delusion—the idea that GDP measures production, and not something else that’s almost the opposite.

    Time: 6:00pm
    Date: Tuesday, 11 October
    Location: Case Room 1, Level 0, University of Auckland Business School

Look forward to seeing you there.

UPDATE:  Here’s some notes and images used last night (my source for the images is Mark Skousens’s book Structure of Production):

ScanImage03

StagesOfProduction

And here’s the slides showing all those definitions we discussed. Hope you find them useful:

SLIDES-Production Versus Consumption

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