The Economic Surplus: Theory, Measurement, Applications

By Anders Danielson | Go to book overview

demands better domestic savings performance. Unless some domestic income recipients can be persuaded to live a less riotous life, such savings must be generated within the public sector.


APPENDIX TO CHAPTER 5: SOURCES AND QUALITY OF DATA

This short Appendix briefly describes (i) the sources of data material utilized and (ii) the methods used for creation of unavailable material. Since a major point in this book is that the approach devised utilizes only easily accessible data, that is, data from the national accounts, it is important that the transformation method is correctly described. Hence the need for the Appendix.

Most of the material is taken from the annual National Income and Product, published by Kingston's Statistical Institute. This material is reproduced in a number of summary publications, such as the Statistical Yearbook and the Annual Abstract of Statistics. Much of the material is subject to repeated revisions; attempts were made to use the latest revision available.

The data material is not of perfect quality. First, Gross Domestic Product in purchases' values does not always turn out to be the sum of Compensation to Employees, Operating Surplus, Capital Consumption and Net Indirect Taxes. To avoid invisible errors, GDP is defined here as the sum of these magnitudes. This approach may be questionable, but it does have the advantage of making the shares of surplus add to unity.

Second, for some years during the 1960s, data on employment simply does not exist. Specifically, this is true for data on sectoral employment for the period 1962 to 1968. It is possible to find indications of change in the employment structure by looking at the Employment Surveys (reported in the Annual Abstract of Statistics); some estimates are also found in the German publication Länderkurzberichte: Jamaika, published by the Statistical Institute in Wiesbaden, FRG. In the 1973 issue of that publication a few estimates of sectoral employment are reported. Since data material on per capita wages in agriculture is strategic to this method, and since data on agricultural wages are reported on an aggregate basis in the national accounts, it is important to have information concerning agricultural employment. It is assumed here that the rate of change in the employment structure during the years for which employment data are unavailable is constant. Hence, if employment is known in the year t and in the year t+3, employment in t+1, Lt+1, is estimated as (A5.1)

-78-

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The Economic Surplus: Theory, Measurement, Applications
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Figure and Tables ix
  • Acknowledgments xi
  • I - Introduction 1
  • 1: Surplus and Economic Development 3
  • II - Theory and Measurement 11
  • 2 - The Role of Surplus in Classical Political Economy 13
  • Notes 27
  • 3 - Making Surplus Visible: A National Accounts Approach 29
  • Notes 43
  • 4 - Accumulation and the Agricultural Surplus 47
  • Notes 61
  • III - An Application: Jamaica under Manley 63
  • 5 - Size and Distribution of the Surplus 65
  • APPENDIX TO CHAPTER 5: SOURCES AND QUALITY OF DATA 78
  • APPENDIX TO CHAPTER 5: SOURCES AND QUALITY OF DATA 79
  • Mechanisms of Stagnation 81
  • APPENDIX TO CHAPTER 6: SURPLUS ACROSS COUNTRIES AND OVER TIME 92
  • 7 - The Role of Interest Groups 101
  • Notes 123
  • IV - Concluding Observations 127
  • 8: Is Surplus Obsolete? 129
  • References 137
  • Index 147
  • About the Author 153
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