A statistical study of construction productivity from 1917 to 1957. - Page 117 |
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107
National Income is the sum of factor costs Incurred by the Industry in production. Hence, It is the net value added to production by the industry, measured by factor costs . . . it is equal to the excess of the market value of the Industry product and the subsidies it receives over the sum of: purchases of goods and services from other enterprises, indirect business tax and non-tax liability, business transfer payments and capital consumption charge s.7
Here again we have a general measurement which gives
satisfactory results as an indicator of general trends, but
will not bear close scrutiny as an absolute measure of
dollar value for productivity. It is subject to the same
errors in weekly hours noted above and, in addition, the
difficulties of measurement associated with any attempt to
measure National Income.
Manufacturing and Transportation Income per Manhour
This curve was obtained by dividing the annual
National Income for all manufacturing in 195>lj- dollars for
each year by total average manhours.® Total manhours are
as noted above for Gross National Product and. the National
Income for all manufacturing is the ’’value added by manufacturing”
similar to the total National Income defined in
the previous paragraph.
7 United States Department of Commerce, National Income and Product of the United States, 1929-1~9 5-0, A Supplement to the Survey of Current Business, National
Income Division (Washington:’ Government Printing Office,
1951), p. 112.
g
Business Statistics, op. cit., p . 2.
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| Title | A statistical study of construction productivity from 1917 to 1957. - Page 117 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | 107 National Income is the sum of factor costs Incurred by the Industry in production. Hence, It is the net value added to production by the industry, measured by factor costs . . . it is equal to the excess of the market value of the Industry product and the subsidies it receives over the sum of: purchases of goods and services from other enterprises, indirect business tax and non-tax liability, business transfer payments and capital consumption charge s.7 Here again we have a general measurement which gives satisfactory results as an indicator of general trends, but will not bear close scrutiny as an absolute measure of dollar value for productivity. It is subject to the same errors in weekly hours noted above and, in addition, the difficulties of measurement associated with any attempt to measure National Income. Manufacturing and Transportation Income per Manhour This curve was obtained by dividing the annual National Income for all manufacturing in 195>lj- dollars for each year by total average manhours.® Total manhours are as noted above for Gross National Product and. the National Income for all manufacturing is the ’’value added by manufacturing” similar to the total National Income defined in the previous paragraph. 7 United States Department of Commerce, National Income and Product of the United States, 1929-1~9 5-0, A Supplement to the Survey of Current Business, National Income Division (Washington:’ Government Printing Office, 1951), p. 112. g Business Statistics, op. cit., p . 2. |
