192 Sentences With "fixed capital" | Random Sentence Generator

As the amount of fixed capital grew, workers could exert greater power.

Still, gross fixed capital investment continues to dampen the outlook for growth.

Gross fixed capital formation contracted by 2.6 percent from a 1.3 percent expansion previously.

Because you have a fixed capital investment that's being spread over a bigger base.

Government expenditure was also up, by 1.3%, while gross fixed capital formation expanded by 4.5%.

The government plans to boost fixed capital spending and promote public-private partnerships (PPP) in infrastructure.

Gross fixed capital investment includes machinery purchases, land improvement and the construction of infrastructure and buildings.

Meanwhile, the latest data for Mexican retail sales and fixed capital investment showed significant declines in December.

Amazon employs 5003,000 staff per billion dollars of fixed capital, whereas for Facebook the figure is just 1,500.

Gross fixed capital formation was 1.3 percent higher in the quarter and up 6.0 percent year-on-year.

A global upswing in fixed capital spending is already in train, led by America but not confined to it.

Then we calculated the five-year average in each quartile for gross fixed capital formation as a share of GDP.

Such spending that brings about economic benefits for firms will be calculated as fixed capital formation, rather than intermediate consumption.

Gross fixed capital formation grew 2 percent in the fourth quarter, above the 1.8 percent growth in the third quarter.

To reach 2009 levels of fixed capital formation, Greece would need to invest at least 79 billion euros ($90 billion).

In the year to September gross fixed capital formation fell in Britain while rising in every other G7 country except Japan.

In India, for instance, the World Bank estimated $30 billion in working and fixed capital requirements for women entrepreneurs in India.

"Tourism continued to support economic growth, making up for a mild increase in consumer spending and fixed capital investments," Magginas said.

After a strong first quarter, a decline was recorded especially in gross fixed capital formation in machinery and equipment and in construction.

Positive contributions came from domestic demand as household consumption, government expenditure and gross fixed capital formation increased on the quarter, the office said.

Such fixed capital assets, along with current assets (cash, stocks of unsold goods, and so on) typically make up the bulk of book value.

The statistics office said household consumption grew percent, government consumption by 1.7percent and gross fixed capital formation by 18.6 percent from a year earlier.

Gross fixed capital expenditure dropped 22.5 percent during the fourth quarter however, while final consumption spending rose 0.7 percent on a seasonally-adjusted basis.

Eurostat said household consumption added 0.3 percentage points to the quarterly growth result, gross fixed capital formation 0.2 points and net trade 0.1 points.

Gross fixed capital formation declined by 3.1 percent from a year earlier in the June quarter, hardly evidence of an economy firing on all cylinders.

The sharp reduction in the required foreign currency value applies to fixed capital investments and bank deposits, as well as for properties and bond holdings.

Eurostat said gross fixed capital formation contributed 0.3 percentage points, household consumption 0.2 points and government consumption 0.1 points to the first-quarter growth figure.

Gross fixed capital investment fell by 5.2% on the year during the first ten months of 2019, according to figures published by INEGI earlier this month.

The new leverage ratio swaps a fixed capital requirement for one that is in part based on a bank's size and reach in the global financial system.

Positive contributions came from that source in the second quarter, as household consumption, government expenditure and gross fixed capital formation increased on the quarter, the statistics office said.

Gross fixed capital formation added 0.3 percentage points to the final outcome in the fourth quarter, with 0.1 point contributions from inventory changes, household spending and government consumption.

This is the idea of automation that we're familiar with: replacing variable capital with fixed capital that becomes less expensive in the long run than paying people an hourly wage.

Banks had fought against the fixed capital charge and the Basel Committee said it noted the industry's feedback on the feasibility and complexities of a one-size-fits-all approach.

Gross fixed capital formation, a key indicator of businesses' and individuals' planning toward future growth, lags behind that of the United States' top 10 trading partners, except the United Kingdom.

The gross fixed capital formation, which measures investment, slipped 0.1 percent in 173 but should rise 8.8 percent this year and over 5 percent in each of the following two years.

Gross fixed capital formation, a measure for investments, also grew by 0.5 percent in the first quarter, but much less than in the previous quarter when it rose by 1.3 percent.

"There's plenty of scope for both working and fixed capital to be managed more tightly, but we think investment will be less aggressively curtailed than we previously anticipated," RBC analysts said.

During the 1970s, when productivity was growing quickly, the US economy's fixed-capital base grew at a pace of about 8% of GDP after adjusting for the depreciation of assets over time.

Statistics South Africa said the economic contraction in the first quarter was steeper than initially recorded, at 2.6 percent, and that gross fixed capital formation fell by 0.5 percent in the second quarter.

The amount of required fixed capital investment was reduced to $500,000 from $2 million and the size of bank deposits was cut to $500,000 from $3 million, the decision published on Official Gazette said.

For example, between 2007 and 2014, average gross fixed capital formation as a percent of gross domestic product (GDP) was just 19.4 percent, putting the U.S. behind its top 10 trading partners, except for the United Kingdom.

That may be one reason why the costs of wear and tear (or "consumption of fixed capital") are reckoned to be so much higher in Japan (22% of GDP) than in many other countries, where houses are assumed to age more gracefully.

Economists have been likening knowledge, skill and stamina to physical capital, such as plant and equipment, since Adam Smith, who counted "the acquired and useful abilities" of a country's people as one of several kinds of fixed capital, alongside "useful machines" and "profitable buildings".

"The pick up in growth year-on-year was driven by stronger private consumption and a rise in inventories, helping to offset a significant drop in gross fixed capital formation which was amplified by an adverse base effect," said National Bank economist Nikos Magginas.

"There is no denying that elevated uncertainty is bad for investment, but our tracking of global fixed capital formation finds little sign of lasting damage, at least at this stage," Institute of International Finance economists Robin Brooks and Jonathan Fortun said in a recent note.

"We like companies that don't actually pay too much of their cash flow out because they have good opportunities to invest in fixed capital and generate higher returns in the future through these investments," Tim Crockford, lead manager of the Hermes Europe Ex-UK Equity Fund, said.

Analysts led by Marcos Schmidt said in an report that the so-called capital intensity metric, which measures how much of revenue is consumed by fixed capital spending over time, may decline to about 13 percent by December 2018 from about 20 percent two years ago.

If markups had remained at the levels they were in the early 2000s, we estimate that the amount of fixed capital (like machinery and equipment) used for the production of goods and services today would be on average about 3% higher and GDP about 1% higher in advanced economies.

Below is a breakdown of details: GROSS DOMESTIC PRODUCT (GDP) Q7.73 '27.7 Q26.6 '25.5 Q1 '18Growth rates yr/yr (%) 3.9 2.3 2.5Household consumption 4.4 6.63 3.9Government 3.1 2.3 2.8Gross fixed capital formation 11.5 6.1 3.6Exports of goods/services 4.6 1.3 -0.5Imports of goods/services 7.7 6.6 5.5 (Reporting by Igor Ilic Editing by Helen Popper)

Any Industry that is located within a rural area, where the Fixed Capital Investment per Artisan (weaver) does not exceed Rupees One hundred thousand The Fixed Capital Investment can be changed by the Central Government of India whenever it so requires.

Consumption of fixed capital in percent of GDP, Germany, Japan, United States, computed from data of Ameco data base. In national accounts the decline in the aggregate capital stock arising from the use of fixed assets in production is referred to as consumption of fixed capital (CFC). Hence, CFC is equal to the difference between aggregate gross fixed capital formation (gross investment) and net fixed capital formation (net investment) or between Gross National Product and Net National Product. Unlike depreciation in business accounting, CFC in national accounts is, in principle, not a method of allocating the costs of past expenditures on fixed assets over subsequent accounting periods.

Net national income differs from gross national income by the amount of consumption of fixed capital deducted.

By then, a fixed capital had been settled in Anyam-Godo in what is today Senegal's Futa Toro region.

Human capital is substitutable, but not transferable like land, labor, or fixed capital. Some contemporary growth theories see human capital as an important economic growth factor. Further research shows the relevance of education for the economic welfare of people. Adam Smith defined four types of fixed capital (which is characterized as that which affords a revenue or profit without circulating or changing masters).

But the value of land improvements is included in the statistical concept of fixed capital, being regarded as the creation of value-added through production.

Attempts have been made to estimate the value of the stock of fixed capital for the whole economy using direct enterprise surveys of "book value", administrative business records, tax assessments, and data on gross fixed capital formation, price inflation and depreciation schedules. A pioneer in this area was the economist Simon Kuznets. Simon Kuznets, Gross capital formation, 1919-1933. New York: National Bureau of Economic Research, 1934.

Consumption of fixed capital in percent of GDP, Germany, Japan, United States, computed from data of Ameco data base. Consumption of fixed capital (CFC) is a term used in business accounts, tax assessments and national accounts for depreciation of fixed assets. CFC is used in preference to "depreciation" to emphasize that fixed capital is used up in the process of generating new output, and because unlike depreciation it is not valued at historic cost but at current market value (so-called "economic depreciation"); CFC may also include other expenses incurred in using or installing fixed assets beyond actual depreciation charges. Normally the term applies only to producing enterprises, but sometimes it applies also to real estate assets.

John E. Roemer criticized the absence of fixed capital in Okishio's model, and therefore modified Okishio's model, to include the effect of fixed capital. He concluded though that:It is also possible to construct an alternative Okishio-type model, in which the rising cost of land rents (or property rents) lowers the industrial rate of profit.Bill Gibson & Hadi Esfahani, "Nonproduced means of production: neo-Ricardians vs. Fundamentalists". Review of Radical Political Economics, vol.

What follows is the solution Kalecki gave in one of his books. Kalecki's investment function in the study of business cycles is the following: where D \,\ is the amount of investment decisions in fixed capital, a \,\ , b \,\ and c \,\ are parameters that specify a linear relation, d \,\ is a constant which can vary in the long-run, P \,\ are profits, S \,\ is the gross saving generated by the firm, and K \,\ is the stock of fixed capital. The equation shows that investment decisions depend positively on savings generated by the firm, the rate of change of profits, a constant which is subject to long-term changes, and negatively on the increase of fixed capital. The above equation is able to generate cycles by itself.

Where the distinction is used, circulating capital is a component of (total) capital, also including fixed capital used in a single cycle of production. In contrast to fixed capital, it is used up in every cycle (raw materials, basic and intermediate materials, combustible, energy…). In accounting, the circulating capital comes under the heading of current assets. Building on the work of Quesnay and Turgot, Adam Smith (1776) made the first explicit distinction between fixed and circulating capital.

Currently, the bank runs assets that are estimated at 497 billion YR which is approximately $2.314 billion US dollars. Its fixed capital is 20 billion Rials which is $93 million US dollars.

AG Real Estate is one of the principal shareholders of the Sicafis (fixed capital real estate investment trusts) Befimmo, a former BEL20-company, and Ascencio. The multinational has approximately 2,600 employees in over ten countries.

By not using income to buy consumer goods and services, it is possible for resources to instead be invested by being used to produce fixed capital, such as factories and machinery. Saving can therefore be vital to increase the amount of fixed capital available, which contributes to economic growth. However, increased saving does not always correspond to increased investment. If savings are not deposited into a financial intermediary such as a bank, there is no chance for those savings to be recycled as investment by business.

By reducing the amount of fixed capital inputs, the production function will shift down. The beginning of stage 2 shifts from B1 to B2. The (unchanged) profit-maximizing output level will now be in stage 2.

L.O. Petram. FGw: Instituut voor Cultuur en Geschiedenis (ICG). 2011. FGw: Instituut voor Cultuur en Geschiedenis (ICG). 2011 2011 20 These "fixed" capital stock transactions amassed huge turnover rates, and made the stock exchange vastly more important.

In economics and accounting, fixed capital is any kind of real, physical asset that is used repeatedly in the production of a product. It contrasts with circulating capital such as raw materials, operating expenses and the like. It was first theoretically analyzed in some depth by the economist David Ricardo. Thus fixed capital is that portion of the total capital outlay that is invested in fixed assets (such as land improvements, buildings, vehicles, plant and equipment), that stay in the business almost permanently—or at the very least, for more than one accounting period.

Burundi never had a fixed capital. The closest thing to it was a royal hill. When the king moved, his new location became the insago. The compound itself was enclosed inside a high fence and had two entrances.

609, 617, 662. Charles (1500 – 1558) made 40 journeys during his lifetime, travelling from country to country with no single fixed capital city and it is estimated that he spent a quarter of his reign on the road.

Accumulation can be measured as the monetary value of investments, the amount of income that is reinvested, or the change in the value of assets owned (the increase in the value of the capital stock). Using company balance sheets, tax data and direct surveys as a basis, government statisticians estimate total investments and assets for the purpose of national accounts, national balance of payments and flow of funds statistics. The Reserve Banks and the Treasury usually provide interpretations and analysis of this data. Standard indicators include capital formation, gross fixed capital formation, fixed capital, household asset wealth and foreign direct investment.

Accumulation can be measured as the monetary value of investments, the amount of income that is reinvested, or as the change in the value of assets owned (the increase in the value of the capital stock). Using company balance sheets, tax data and direct surveys as a basis, government statisticians estimate total investments and assets for the purpose of national accounts, national balance of payments and flow of funds statistics. Usually, the reserve banks and the Treasury provide interpretations and analysis of this data. Standard indicators include Capital formation, Gross fixed capital formation, fixed capital, household asset wealth, and foreign direct investment.

Fixed capital also "circulates", except that the circulation time is much longer, because a fixed asset may be held for 5, 10 or 20 years before it has yielded its value and is discarded for its salvage value. A fixed asset may also be resold and re-used, which often happens with vehicles and planes. In national accounts, fixed capital is conventionally defined as the stock of tangible, durable fixed assets owned or used by resident enterprises for more than one year. This includes plant, machinery, vehicles and equipment, installations and physical infrastructures, the value of land improvements, and buildings.

The basic idea of the PIM method is, that one starts off from a benchmark asset figure, and adds on the net additions to fixed assets year by year (using gross fixed capital formation data), while deducting annual depreciation, all data being adjusted for price inflation using a capital expenditure price index. In this way, one obtains a time series of annual fixed capital stocks. This data series can also be modified further with various other adjustments for prices, asset lifetimes etc. (several variants of the PIM approach are nowadays used by economic historians and statisticians).

The first requirement to facilitate the emergence of peer- to-peer processes is the existence of a technological infrastructure that enables distributed access to fixed capital. Individual computers that enable a universal machine capable of executing any logical task are a form of distributed fixed capital, available at low cost to many producers. The internet, as a point to point network, was specifically designed for participation by the edges (computer users) without the use of obligatory hubs. Although it is not fully in the hands of its participants, the internet is controlled through distributed governance, and outside the complete hegemony of particular private or state actors.

The acceleration effect is the phenomenon that a variable moves toward its desired value faster and faster with respect to time. Usually, the variable is the capital stock. In Keynesian models, fixed capital is not in consideration, so the accelerator coefficient becomes the reciprocal of the multiplier and the capital decision degenerates to investment decision. In more general theory, where the capital decision determines the desired level of capital stock (which includes fixed capital and working capital), and the investment decision determines the change of capital stock in a sequences of periods, the acceleration effect emerges as only the current period gap affects the current investment, so do the previous gaps.

By royal decree John Law was granted the right to establish a joint- stock bank with a fixed capital of 6 million francs, the Banque Générale, divided into 1,200 bearer shares of 5,000 francs each. In August 1717, Law established a new joint stock company, the Mississippi Company, with a fixed capital of 100 million, divided into 200,000 bearer shares to colonize the countries lying along the banks of the Mississippi River. However, Law's mercantilist policies saw him seek to establish large monopolies, leading to the Mississippi bubble. The bubble would ultimately burst in 1720, and on November 27 of that year, the Bank officially closed.

This is roughly equal to intermediate consumption. Finer distinctions include raw materials, intermediate goods, inventories, ancillary operating expenses and (working capital). It is contrasted with fixed capital. The term was used in more specialized ways by classical economists such as Adam Smith, David Ricardo and Karl Marx.

The company's fixed capital in 1914–1917 was 30 million rubles. By 1916, it was the largest oil company in Russia, producing 76 million poods of oil. Between 1877 and 1901, the company drilled over 500 wells, produced 150 million barrels of oil, and employed 12,000 workers.

An owner can obtain funding for purchase of fixed capital assets from the aptly named capital market, where loans are given on a long-term basis. Funding can also come from reserve funds, the selling of shares, and the issuing of debentures, bonds or other promissory notes.

The so-called "perpetual inventory method" (PIM) used to estimate fixed capital stocks was invented by Raymond W. Goldsmith in 1951 and subsequently used around the world.Raymond W. Goldsmith, A Perpetual Inventory of National Wealth. Studies in Income and Wealth, Vol. 14. New York: NBER, 1951, pp. 5-74.

Of course, in reality it could be that real ("economic") depreciation diverges from depreciation for tax purposes. In that case, the reported consumption of fixed capital could contain an element of undistributed profit. Additionally, official national accounts may include in consumption of fixed capital the value of those insurance premiums, interest and rents paid from gross income, which relate directly to the acquisition or maintenance of productive fixed assets, on the ground that they are part of the cost of operating productive fixed assets. In Marxian economics, however, these flows would be regarded either as a faux frais of production, a circulating constant capital outlay, or an element of gross surplus value.

When the consumption of fixed capital is deducted from the figures the resulting ratio of net fixed capital formation to net domestic product is around 8% for the average of the EU-27; again substantially higher ratios of more than 15% can be observed for some of the new EU member states such as Spain. Higher investment rates in poorer countries will lead to more equivalent living condition across Europe in the long-term through accelerated economic growth and an improved equipment of the labour force with modern infrastructure and technology. The detailed data on which these observations were made can be downloaded from Eurostat's website. Mean income of U.S. families by education of head, 1989–2010.

Beijing Financial Street Chinese investment has always been highly cyclical. Ever since the 1958 Great Leap Forward, growth in fixed capital formation has typically peaked about every five years. Recent peaks occurred in 1978, 1984, 1988, 1993, 2003 and 2009. The corresponding troughs were in 1981, 1986, 1989, 1997 and 2005.

Merchant-capitalists lacked the incentive of later factory owners, whose capital was invested in building and plants, to maintain a steady rate of production and return on fixed capital. The combination of seasonal variations in wage rates and violent short-term fluctuations springing from harvests and war produced periodic outbreaks of violence.

Habib Group's involvement in banking services dates back to 1930s. The original Habib Bank began modestly in Bombay in 1941 when it commenced operations with a fixed capital of 25,000 rupees. Impressed by its initial performance, Muhammad Ali Jinnah asked the Habib Bank to move its operations to Karachi after the independence of Pakistan.

This theorem was later extended to the case of joint production in Morishima (1974), and later to the case of fixed capital by Nakatani (1978) and Roemer (1979). This work stimulated much discussion about its validity and implications for Marxist theory when it was first published, and has been a hotly debated subject to this day.

Emmet studied accounting by mail with Pace Correspondence School. He took a job as a bookkeeper with Spreckel's Sugar Company, and worked his way up, eventually becoming the head of the fixed capital department at United Electric Company, which became Consolidated Edison. Muir had two sisters, the older Katherine, "Kay," and a younger sister Marjorie.Muir, Helen.

One of the oldest known stock certificates, issued by the VOC Chamber of Enkhuizen, dated 9 September 1606. The VOC was the first recorded joint-stock company to get a fixed capital stock. The VOC was also the first publicly listed company ever to pay regular dividends.Huston, Jeffrey L.: The Declaration of Dependence: Dividends in the Twenty-First Century.

In UNSNA, the value at current prices of the gross capital stock is obtained, by using price indices for fixed assets at current replacement cost, irrespective of the age of the assets. The net, or written-down value of a fixed capital asset is equal to its current replacement cost, less CFC accrued up to that point in time.

Oxford (UK): Oxford University Press, p. 39. Depreciation describes the devaluation of fixed capital through wear and tear associated with its use in productive activities. Closely related to the concept of GNP is another concept called NNP of a country. NNP is a more accurate measure of total value of goods and services by a country.

GFCF is called "gross" because the measure does not make any adjustments to deduct the consumption of fixed capital (depreciation of fixed assets) from the investment figures. For the analysis of the development of the productive capital stock, it is important to measure the value of the acquisitions less disposals of fixed assets beyond replacement for obsolescence of existing assets due to normal wear and tear. "Net fixed investment" includes the depreciation of existing assets from the figures for new fixed investment, and is called net fixed capital formation. GFCF is not a measure of total investment, because only the value of net additions to fixed assets is measured, and all kinds of financial assets are excluded, as well as stocks of inventories and other operating costs (the latter included in intermediate consumption).

As a result, agriculture's share of gross investment in fixed capital fell to 18 percent by 1976, a level last seen in the mid-1950s. In 1978, this failure triggered a new policy emphasizing smaller complexes. Reduced agricultural quotas in the Eighth Five-Year Plan (1981–85) were an admission that too much had been expected from the constant tinkering process.

This trend will certainly affect industrial research spending. The Petrobrás crisis is expected to have a major impact on investment in R&D;, since it alone has accounted for about 10% of the country's annual fixed capital investment in recent years. The cuts to the federal budget announced in 2015 and other austerity measures should also affect government spending on R&D.

Smith represents every individual as trying to employ any capital they might command for their own advantage, not that of the society,'Capital' in Smith's usage includes fixed capital and circulating capital. The latter includes wages and labour maintenance, money, and inputs from land, mines, and fisheries associated with production per The Wealth of Nations, Bk. II: ch. 1, 2, and 5.

After "Æthelstan A" retired or died, charters reverted to a simpler form, suggesting that they had been the work of an individual, rather than the development of a formal writing office.Foot, Æthelstan: The First King of England, pp. 71–72 A key mechanism of government was the Royal Council (or witan). Anglo-Saxon kings did not have a fixed capital city.

At the time of its failure the Atlantic National Bank had fixed capital of $300,000. Following its opening on April 26, 1873, it incurred heavy losses after the depreciation of securities which it held as collateral for losses. These funds were not replenished. F. L. Taintor, the cashier, declared the bank insolvent and attested to its defaulting in the amount of $400,000.

Urban infrastructure involves various physical networks and spaces necessary for transportation, water use, energy, recreation, and public functions.Joel A. Tarr, "The Evolution of the Urban Infrastructure in the Nineteenth and Twentieth Centuries"; in Hanson (1984). Infrastructure carries a high initial cost in fixed capital (pipes, wires, plants, vehicles, etc.) but lower marginal costs and thus positive economies of scale.Wellman & Spiller, "Introduction", in Wellman & Spiller (2012).

This arbitrage was attractive as the poor economic climate reduced incentives to invest in fixed capital and labor. However, it relies on Chinese local and provincial banks remaining solvent to be low risk. UBS warned on 16 April that the amount of Eurozone BBB-rated debt had risen from $359 billion in 2011 to $1.24 trillion. UBS estimated a high- risk of downgrades to junk status.

Rhode Island did not have a fixed capital during and after the colonial era but rotated its legislative sessions among Providence, Newport, Bristol, East Greenwich, and South Kingstown. In 1854, the sessions were eliminated in the cities other than Providence and Newport, and Newport was finally dropped in 1900. A constitutional amendment that year restricted the meetings of the legislature to Providence.Taylor, William Harrison.

Canal History Despite the development of output, industrialisation was carried out mainly by extensive methods: economic growth was ensured by an increase in the gross capital formation rate in fixed capital, a savings rate (due to a fall in the consumption rate), employment rates and the exploitation of natural resources.Fischer S. Russia and the Soviet Union Then and Now // NBER Working papers. 1992. No. 4077.

A member of the royal clan also always sat at their side, observing their behaviour. Furthermore, the manjils had to travel to Sennar every year to pay tribute and account for their deeds. It was under king Badi II when Sennar became the fixed capital of the state and when written documents concerning administrative matters appeared, with the oldest known one dating to 1654.

In the national accounts (e.g., in the United Nations System of National Accounts and the European System of Accounts) gross capital formation is the total value of the gross fixed capital formation (GFCF), plus net changes in inventories, plus net acquisitions less disposals of valuables for a unit or sector.Ruggles, Richard; Ruggles, Nancy D.: National Income Accounts and Income Analysis. New York: McGraw-Hill, 1956.

The European system of national and regional accounts (ESA95) explicitly includes produced intangible assets (e.g. mineral exploitation, computer software, copyright protected entertainment, literary and artistics originals) within the definition of fixed assets. Land itself is not included in the statistical concept of fixed capital, even though it is a fixed asset. The main reason is that land is not regarded as a product (a reproducible good).

The moderate scenario is characterized by a GDP growth of 3.3% to 3.4% annually to 2020, an increase of investment in fixed capital by 3.6 times, and fixed prices for oil at a little more than one-half of the optimistic scenario and gas prices about 20% lower than in the optimistic scenario. The critical scenario is characterized primarily by low world oil prices.

This includes monitoring and becoming aware of a performance issue with an asset in its asset portfolio (i.e., capital asset base), to completing a project and delivering a modified or new asset to the company's portfolio. It also addresses managing multiple projects as a program or project portfolio. TCM has found its widest audience in the companies that make large capital investments in fixed capital assets through construction projects (e.g.

The cost-of-production theory of value states that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can comprise any of the factors of production (including labor, capital, or land) and taxation. Technology can be viewed either as a form of fixed capital (e.g. an industrial plant) or circulating capital (e.g.

Measured by total factor productivity, labour, and capital, British productivity growth between 1979 and 1993 compared favourably with the OECD average. However under Thatcherite management the macro-economy was unstable, even by the standards of the Keynesian era of stop-go. The amplitude of fluctuations in gross domestic product and real gross private non-residential fixed capital formation was greater in the United Kingdom than for the OECD.

Lawrence had a benefice (an office endowed with fixed capital assets that provide a living through the revenue from such assets) in the west of England, where he attained fame by his preaching. He was published by the royalist printer Richard Royston. Along with Thomas Pierce and Jeremy Taylor, he was one of the Arminian clerics attacked by Edward Bagshaw the younger and Henry Hickman.Nicholas Tyacke, Religious Controversy, p.

Preliminary figures for 2013 indicate slight growth in government spending and a constant contribution from the business sector (relative to GDP). Business research expenditure is likely to contract from 2015 onwards until the economy shows signs of recovery. Even the most optimistic analysts do not expect this to happen before 2016. Fixed capital investment in Brazil is expected to decline further in 2015, especially in the manufacturing sector.

One theory of the determination of fixed investment focuses on the discrepancy between the current quantity of the fixed capital stock and the optimal or target capital stock. The target capital stock—the level at which a firm's profits would be highest if actual fixed capital holdings equaled that level—is determined as the level at which the marginal product of capital equals the marginal cost of capital. Then the flow of net investment per unit of time is determined by balancing losses from having a less-than-optimal level of capital with the adjustment costs of installing new capital; these adjustment costs in per-unit terms may be an increasing function of the speed of installation. Another theory of fixed investment determination is based on Tobin's q, the ratio of the market value to the acquisition cost of an additional unit of physical capital; investment is hypothesized to be an increasing function of this ratio.

The gold and foreign currency reserves of the State Treasury were also transferred to the central bank. The fixed capital of the bank was increased from 2.5 million kroon to 5 million kroon. The sizes of the issues in relation to the reserves backing the kroon were determined. Long-term loans that had become illiquid were transferred to the Long Term Loan Bank, founded specifically for the purpose of releasing Eesti Pank from this burden.

If there is too much uncertainty about whether their fixed investment will pay off, they are unlikely to engage in it. In recent decades, the growth rate of fixed investment in the US, Europe and Japan was relatively low, but in China for example it is relatively high. Often the relativities are expressed as a ratio between gross fixed capital formation and GDP, or fixed investment per worker employed or per capita.

They must also meet a range of other operating expenses. These can include all kinds of things like bookkeeping, training, catering, cleaning & repairs, advertising, insurance, security services, bribes, taxes & levies etc. Marx has in mind mainly those circulation costs directly necessary and indispensable to keep production going, not "fringe benefits". In modern medium-sized to large-sized business, fixed capital assets will "on average" be the largest single component of the annual tangible capital outlay.

Firms react to the improvement of commercial situation through the increase in output through the full employment of the extent fixed capital assets. As a result, within a certain period of time (ranging between a few months and two years) the market gets ‘flooded’ with commodities whose quantity becomes gradually excessive. The demand declines, prices drop, the produced commodities get accumulated in inventories, which informs entrepreneurs of the necessity to reduce output. However, this process takes some time.

Scottish Co-op sold Norco's Berryden superstore to J Sainsbury, still as a going concern, in 2000. Norco was formed in 1861 as Northern Co-operative Company, by two committees of Aberdeen residents who planned to follow the example of the Rochdale Equitable Pioneers Society. The first shop was a grocery business at 51 Gallowgate, opened in July that year. The original company had a fixed capital of £1000, but in 1917, it converted into Northern Co-operative Society.

Fixed investment in economics is the purchasing of newly produced fixed capital. It is measured as a flow variable – that is, as an amount per unit of time. Thus, fixed investment is the accumulation of physical assets such as machinery, land, buildings, installations, vehicles, or technology. Normally, a company balance sheet will state both the amount of expenditure on fixed assets during the quarter or year, and the total value of the stock of fixed assets owned.

FGw: Instituut voor Cultuur en Geschiedenis (ICG). 2011. FGw: Instituut voor Cultuur en Geschiedenis (ICG). 2011 2011 20 These "fixed" capital stock transactions amassed huge turnover rates, and made the stock exchange vastly more important. Thus the modern securities market arose out of this system of stock exchange. Courtyard of the Amsterdam Stock Exchange, circa 1670. The rapid development of the Amsterdam Stock exchange in the mid 17th century lead to the formation of trading clubs around the city.

An empirical proxy measure for the technical composition of capital (TCC) is the average amount of fixed equipment and materials used per worker (capital intensity), or the ratio of the average amount of equipment & materials used to the total hours worked. The value composition of capital (VCC) is usually measured by summing the value of fixed capital ("Cf") and intermediate expenditures (circulating capital or "Cc") and dividing the total by the value of labour costs (V). The estimation procedure is not simple, for example because compensation of employees includes more than wages and part of the tax levy constitutes an element of surplus value. In modern national accounts, an empirical proxy of the flow of variable capital is the wage- payments associated with productive activity in an accounting period, and a proxy for constant capital (flow measure) is depreciation charges + intermediate consumption; a stock measure of constant capital would be the fixed capital stock plus the average value of inventories held during the period of account (usually a year).

The fixed capital investment provides the physical facilities. The working capital investment is a revolving fund to keep the facilities operating.Frederic C. Jelen, James H. Black, Cost and Optimization Engineering, Third Edition, McGraw-Hill Book Company, 1983 In system, product, or facility acquisition planning, a cost estimate is used to evaluate the required funding and to compare with bids or tenders. In construction contracting, a cost estimate is usually prepared to submit a bid or tender to compete for a contract award.

In 2013, the volume of investments directed to fixed capital was 1 billion 37 million 748 thousand manats. During 2004-2013, 227 administrative buildings, 29 pumping station, 150 subartezian wells, 61 bridges, 119 educational institutions, as well as 83 general educational schools with the capacity of 26164 pupils, 159 cultural institutions, 146 healthcare institutions, 420 individual houses, 18 sports facilities have been put into operation. Over the past few years, 101 village centers, 3 settlements have been put into operation.

The counterpart of overconsumption in the face of declining national output was a contraction in both savings and fixed capital formation, depletion of stocks, and a huge balance-of-payments deficit. The rapid increase in production costs associated with the surge in unit labor costs between 1973 and 1975 contributed significantly to the decline in Portugal's ability to compete in foreign markets. Real exports fell between 1973 and 1976, and their share in total expenditures declined from nearly 26 percent to 16.5 percent.

From 1899 to 1909, his company by volume of fixed capital (22 million rubles) was the largest in Russian industry. It is said that before buying oil wells Mantashev personally examined them. He knew that a rich deposit may suddenly dry up, and vice versa: a well seemingly lacking in prospects could end up as a rich fountain. Surrounded by a group of geologists and petroleum engineers, he visited the sites asking countless questions, carefully studying land-color, softness etc.

"Total capital formation" in national accounting equals net fixed capital investment, plus the increase in the value of inventories held, plus (net) lending to foreign countries, during an accounting period (a year or a quarter). Capital is said to be "formed" when savings are utilized for investment purposes, often investment in production. In the USA, statistical measures for capital formation were pioneered by Simon Kuznets in the 1930s and 1940s,Kuznets, Simon et al., National income and capital formation, 1919-1935.

The VOC is often considered as the precursor of modern corporations, if not the first truly modern corporation. It was the VOC that invented the idea of investing in the company rather than in a specific venture governed by the company. With its pioneering features such as corporate identity (first globally recognised corporate logo), entrepreneurial spirit, legal personhood, transnational (multinational) operational structure, high and stable profitability, permanent capital (fixed capital stock),Clarke, Thomas; Branson, Douglas (2012). The SAGE Handbook of Corporate Governance (Sage Handbooks).

He adopted the Imperial name of Charles V as his main title, and styled himself as a new Charlemagne. Charles V revitalized the medieval concept of the universal monarchy and spent most of his life defending the integrity of the Holy Roman Empire from the Protestant Reformation, the expansion of the Ottoman Empire, and a series of wars with France. With no fixed capital city, he made 40 journeys, travelling from country to country; he spent a quarter of his reign on the road.

Ford Motor Company's restructuring plan, made public in 2006, was known as The Way Forward. Ford was attempting to reduce fixed capital costs while maintaining a special focus on cars and car-based crossover vehicles. Over time, it hoped to make more of its product line profitable instead of relying on a limited portion of the products for profit. Making good profits across the product line required that the company reduce the costs of development and production, while introducing new products that connect with consumers.

Carroll, C. and Kimball, M. 2001 "Liquidity Constraints and Precautionary Saving." NBER Working Paper Series 8496,National Bureau of Economic Research, Inc Precautionary savings are intimately associated with investments, if earnings are not used for purchasing commodities and services; there is a probability that the precautionary savings can be invested to generate fixed capital and achieve economic growth.Skinner, J. 1987. “Risky Income, Life Cycle Consumption, and Precautionary Savings.” NBER Working Paper 2336, National Bureau of Economic Research, Inc Precautionary saving is different from precautionary savings.

A business executive who invests in or accumulates fixed capital is tying up wealth in a fixed asset, hoping to make a future profit. Thus, such an investment usually implies a risk. Sometimes depreciation write- offs are also viewed partly as a compensation for this risk. Often leasing or renting a fixed asset (such as a vehicle) rather than buying it is preferred by enterprises because the cost of using it is lowered thereby, and the real owner may be able to obtain special tax advantages.

Mohammed Ali Jinnah, Pakistan's first Governor General, realized the importance of financial inter-mediation while he was campaigning for the creation of a separate homeland for the Muslims. He persuaded the Habib family to establish a commercial bank that could serve the Muslim community. His initiative resulted in the creation of Habib Bank in 1941, with head office in Bombay (now Mumbai), and fixed capital of 25,000 rupees. The bank played an important role in mobilizing funds from the Muslim community to finance the All-India Muslim League's campaign for the establishment of Pakistan.

AG Real Estate's portfolio contains direct and indirect real estate holdings, primarily but not exclusively in Europe, as well as investments across all asset classes. The company is the originator of around ten real estate certificates with a total value of €500 million and two real estate investment funds (REITs) with fixed capital, Befimmo and Ascensio. Befimmo is a Sicafi specialising in investing in office buildings located mainly in city centres, notably in Brussels. Its portfolio currently consists of around a hundred office buildings, with a total area of around 850,000 m².

As a result, the resource base in eastern regions of the Soviet Union remained largely untapped. During the first 6 months of the invasion, German forces managed to occupy or isolate territory which prior to WWII accounted for over 60% of total coal, pig iron, and aluminum production. Nearly 40% of total grain production and 60% of total livestock was lost. Moreover, this area contained 40% Soviet population before the war, 32% of the state enterprise labor force, and one-third of the fixed capital assets of the state enterprise sector.

Its value may therefore diverge considerably from depreciation actually recorded in business accounts, or as allowed for taxation purposes, especially if there is price inflation. In principle, CFC is calculated using the actual or estimated prices and rentals of fixed assets prevailing at the time the production takes place, and not at the times fixed assets were originally acquired. The "historic costs" of fixed assets, i.e., the prices originally paid for them, may become quite irrelevant for the calculation of consumption of fixed capital, if prices change sufficiently over time.

In 2005, Shareholders of JSC Olainfarm decided on increasing the fixed capital of the Company by 3 million Lats, to 13.25 million Lats. In 2006, Considering the positive development dynamics of the Company and the quality of investor relations, shares of the Company were transferred to the most prestigious Main List of the Baltics. Popular anti-virus preparation Remantadīns® (Remantadine) was registered as the first of the Company’s manufactured medicaments in Poland. In 2007, JSC Olainfarm received the Baltic Stock Exchange award for the best investor relations on the Internet in 2007.

Kitchin cycle is a short business cycle of about 40 months discovered in the 1920s by Joseph Kitchin. This cycle is believed to be accounted for by time lags in information movements affecting the decision making of commercial firms. Firms react to the improvement of commercial situation through the increase in output through the full employment of the extant fixed capital assets. As a result, within a certain period of time (ranging between a few months and two years) the market gets ‘flooded’ with commodities whose quantity becomes gradually excessive.

In particular, the large Harzburg became a symbol of Imperial tyranny and was seen as impeding on traditional Saxon rights. Like his father, Henry desired to set Goslar as the fixed capital of the German Kingdom. In 1070/71 Henry had already picked a quarrel with the Saxon count Otto of Nordheim, then Duke of Bavaria, and Magnus Billung, son of Duke Ordulf of Saxony. The king seized Otto's title and property and kept Magnus prisoner at Harzburg Castle, even after the latter succeeded his father to the Saxon duchy in 1072.

Nobuo Okishio proved this generally, which can be interpreted as a refutation of Marx's law of the tendency of the rate of profit to fall. This proof has also been confirmed if the model is extended to include not only circulating capital but also fixed capital. Mechanisation, defined as increased inputs of machinery per unit of output combined with the same or reduced amount of labour-input, necessarily lowers the maximum rate of profit.Anwar Shaikh (1978): Political economy and capitalism: notes on Dobb's theory of crisis. Cambridge Journal of Economics, 1978, 2, 233-251.

Under the influence of the government, its major stockholder, Petrobrás artificially depressed petrol prices between 2011 and 2014 to control inflation. This in turn depressed ethanol prices, making ethanol uneconomic to produce. This policy ended up eating into Petrobrás’ own revenue, forcing it to cut back its investment in oil and gas exploration. As Petrobrás alone is responsible for about 10% of all fixed capital investment in Brazil, this trend, along with the corruption scandal shaking the company since 2014, will certainly have ramifications for Brazil's overall investment in R&D.

The company's fixed capital expenditures topped 90 billion rubles, while a target of 64 billion rubles had been set. The profitability of sales totalled 12 percent, and exports exceeded imports by $272 million. In January 2012 the Belarusian Steel Works was reorganized into a joint stock company. During the 2020 Belarusian protests it was reported that the workers of the factory announced in a statement to the management that "in the eventuality of unfair elections, the workers will strike on August 10, 11 and 12", after which a part of the factory went on strike.

This partition created the new political units of the Kingdoms of Rheims, Orléans, Paris and Soissons, and inaugurated a tradition that would lead to disunity lasting until the end of the Merovingian dynasty in 751. Clovis had been a king with no fixed capital and no central administration beyond his entourage. By deciding to be interred at Paris, Clovis gave the city symbolic weight. When his grandchildren divided royal power 50 years after his death in 511, Paris was kept as a joint property and a fixed symbol of the dynasty.

Statistical treatment of the trade in second-hand fixed assets varies among different countries. Increasingly an attempt is made in many countries to identify the trade in second-hand assets separately if it occurs on a quantitatively significant scale (for example, vehicles). In principle, if a fixed asset is bought during the year by one organization, and then resold to another organization during the same year, it should not be counted as investment twice over in that year; otherwise the true growth of the fixed capital stock would be overestimated.

According to Karl Marx (second volume of Das Kapital, end of chapter 7) the turnover of capital influences "the processes of production and self-expansion", the two new forms of capital, circulating and fixed, "accrue to capital from the process of circulation and affect the form of its turnover". In the following chapter Marx defines fixed capital and circulating capital. In chapter 9 he claims: "We have here not alone quantitative but also qualitative difference." Conventionally, (physical) capital assets held by a business for more than one year are regarded in annual accounting statements as "fixed", the rest as "circulating".

He declined membership in the English Order of the Garter in 1422, which could have been considered an act of treason against the king of France, his feudal overlord. Instead, he created his own Order of the Golden Fleece, based on the Knights of the Round Table and the myth of Jason, in 1430. Philip had no fixed capital and moved the court between various palaces, the main urban ones being Brussels, Bruges, and Lille. He held grand feasts and other festivities, and the knights of his Order frequently travelled throughout his territory to participate in tournaments.

At certain times the location functioned as the capital of the principality, but since there was no need for a fixed capital in medieval Europe, the town did not become an important centre of commerce or culture. In 1240 Tatars seized and looted the nearby town but left the castle unharmed. In 1321 George son of Lev, the last prospective heir of Halych-Volynia, died in a battle with the forces of Gediminas, Grand Duke of Lithuania, and Lithuanian forces seized the castle. In 1349 the forces of King Casimir III of Poland captured the town, but Lithuania soon retook it.

This marked the initiation of Salazar's more outward- looking economic policy. Portuguese foreign trade increased by 52% in exports and 40% in imports. The economic growth and levels of capital formation from 1960 to 1973 were characterised by an unparalleled robust annual growth rates of GDP (6.9%), industrial production (9%), private consumption (6.5%) and gross fixed capital formation (7.8%). Despite the effects of an expensive war effort in African territories against guerrilla groups, Portuguese economic growth from 1960 to 1973 under the Estado Novo created an opportunity for real integration with the developed economies of Western Europe.

The 1976 parliamentary and presidential elections allowed Mário Soares to become Prime Minister and General Ramalho Eanes (who played an essential role in defeating the 25 November 1975 coup attempt) to become President of Portugal. The Portuguese economy had changed significantly prior to the 1974 revolution, in comparison with its position in 1961—total output (GDP at factor cost) had grown by 120 percent in real terms. The pre- revolutionary period was characterized by robust annual growth rates for GDP (6.9 percent), industrial production (9 percent), private consumption (6.5 percent), and gross fixed capital formation (7.8 percent).

The Portuguese government held minority interests in TAP, the national airline, in Siderurgia Nacional, the third telecommunications company Radio Marconi, and in oil refining and oil marketing firms. The railroads, two colonial banks (Banco de Angola and BNU), and the Bank of Portugal were majority privately owned but publicly administered. Finally, although privately owned, the tobacco companies were operated under government concessions. Two years after the military coup, the enlarged public sector accounted for 47 percent of the country's gross fixed capital formation (GFCF), 30 percent of total value added (VA), and 24 percent of employment.

Germany never developed a fixed capital city during the medieval or early modern period. "Multizentralität" remained its alternative solution: a decentralized state where the governmental functions never ended up in just one place until the late modern period. England was very different in this respect. Central political power was permanently established in London approximately in the middle of the fourteenth century, but London's outstanding position as a financial center was firmly established many centuries earlier. A monarch like King Henry II of England (1133-1189) was evidently attracted by its great wealth, but he was hesitant about taking up residence there.

The standard setup for financial contracting problems in CSV framework involves two risk-neutral agents, a wealth- constrained entrepreneur with an investment project, and a wealthy investor with capital available. The fixed capital invested in the project generates random cash flow at future time t with probability distribution over the possible range of profits. The entrepreneur has private information about realized cash flows from the project, but it can credibly disclose them to the investor by incurring certain cost. The solution to this problem should provide ex-ante optimal contract structure which specify in which scenario realized cash flow should be audited and certified.

He crowned Menelik King of Shewa in 1878 and Tekle Haymanot King of Gojjam and Kaffa in 1881 and encouraged them to expand their empire to the south, east, and west. However, this advice created rivalry between the two regional kings, which came to a climax in the Battle of Embabo in June 1882. Yohannes reprimanded both of them for fighting without his permission, punished them by taking away a province from the jurisdiction of each of them and defined the direction of territories to be conquered by each of the two kinds. In the first ten years Yohannes had no fixed capital for his empire.

Displays the current value and volume indices (1991 = 100) every quarter for the Gross Domestic Product at market prices, taxes on products, value added at basic prices, personal consumption, government consumption, Gross fixed capital formation, changes in inventories, exports and imports of goods and services. Two series of index numbers are calculated: the basis of the previous year and chained with reference to 1990 (1990 = 100). The series is seasonally adjusted using X-12-ARIMA, enabling calculation of the rates of change over the previous quarter. The IBGE survey was started in 1988 and restructured after 1998, when their results were integrated into the current System of National Accounts.

CFC refers to a depreciation charge (or "write-off") against the gross income of a producing enterprise, which reflects the decline in value of fixed capital being operated with. Fixed assets will decline in value after they are purchased for use in production, due to wear and tear, changed market valuation and possibly market obsolescence. Thus, CFC represents a compensation for the loss of value of fixed assets to an enterprise. According to the 2008 manual of the United Nations System of National Accounts, CFC tends to increase as the asset gets older, even if the efficiency and rental remain constant to the end.

In national accounts, CFC is a component of value added or Gross Domestic Product, and regarded as a cost of production. It is defined in general terms as the decline, in an accounting period, of the current value of the stock of fixed assets owned and used by a producer as a result of physical deterioration, normal obsolescence or normal accidental damage. The UNSNA manual notes that "The consumption of fixed capital is one of the most important elements in the System... It may account for 10 per cent or more of total GDP." CFC is defined "in a way that is theoretically appropriate and relevant for purposes of economic analysis".

The factors of production provide "services" which raise the unit price of a product (X) relative to the cost per unit of intermediate goods used up in the production of X. In national accounts such as the United Nations System of National Accounts (UNSNA) or the United States National Income and Product Accounts (NIPA), gross value added is obtained by deducting intermediate consumption from gross output. Thus gross value added is equal to net output. Net value added is obtained by deducting consumption of fixed capital (or depreciation charges) from gross value added. Net value added therefore equals gross wages, pre-tax profits net of depreciation, and indirect taxes less subsidies.

Johan Gustaf Åkerman (4 March 1888 – 30 August 1959) was a Swedish economist who was Professor of Political Economy in what was to later become the University of Gothenburg. He was the elder brother to Swedish economist Johan Henrik Åkerman. His work, in particular the Åkerman problem, played in an important role in the development of Wicksell's work on the role of capital. And was, according to Velupillai, one of the first to approach the problem of fixed capital as a joint product - work that was later developed by Piero Sraffa and John von NeumannWicksell, K (1934) Real capital and interest: Dr Gustav Akerman's Realkapital und Kapitalzins Appendix 2.

Johor Lama (Kota Batu) was initially founded by Alauddin Riayat Shah II but was sacked by the Acehnese in 1564. It was then moved to Seluyut, later back to Johor Lama during the reign of Ali Jalla (1571–1597) which was sacked by the Portuguese in 1587, then to Batu Sawar, and Lingga (again sacked by the Portuguese). This is followed by a period with no fixed capital (places included Tanah Puteh and Makam Tauhid) during the reign of Sultan Abdul Jalil Shah III before he moved it to Batu Sawar in 1640. After Batu Sawar was sacked by Jambi, later capitals included Kota Tinggi, Riau, and Pancur.

However, it is widely acknowledged that it is extremely difficult to obtain any accurate measurement of the value of fixed capital, especially because even the owner himself or herself may not know what the assets are currently "worth". What they are worth may become apparent only at the point where they are definitely sold for a price. Some valuations for fixed assets may refer to historic cost (acquisition cost) or book value, others to current replacement cost, current sale value in the market, or scrap value. The depreciation write-off permitted for tax purposes may also diverge from so-called "economic depreciation" or "real" depreciation rates.

The explosive growth in capital accumulation directly led to an equally explosive growth in investment in fixed capital for industries related to trade. Technological innovations like the wind-driven sawmill (invented by Cornelis Corneliszoon), which significantly increased productivity in ship building, offered opportunities for profitable investment, as did the textile industries (mechanized fulling, new draperies) and other industries that made use of mechanization on the basis of wind power. This mechanization was based on yet another invention of Corneliszoon, for which he received a patent in 1597: a type of crankshaft that converted the continuous rotational movement of the wind (windmill) or river (water wheel) into a reciprocating one.

Projections of Russia's fuel production are based on the country's Energy Strategy for Russia for the Period up to 2020 issued in 2003 by the Ministry of Energy of the Russian Federation. This strategy envisions three potential scenarios: optimistic, moderate, and critical. The optimistic scenario is characterized by the growth of GDP at the rate of 4.7% to 5.2% annually, by a sevenfold increase of investment in fixed capital for this period compared with the 2000 level, and by high world prices for oil and gas. The oil prices envisioned by this strategy in 2003, even for the optimistic scenario, were about one-half of the 2005 oil prices.

The housing sector plays an important role in the economy of Iran; it has links with 130 economic sectors, contributes to more than 20 percent of fixed capital formation each year, constitutes 25 percent of the balance of loans in the banking sector, 33 percent of household expenses are housing expenses, and the housing sector contributes around 12 percent of employment to the economy. In terms of investment, the domestic rival markets of real estate market are gold, car and the Iranian bourse. Construction is one of the most important sectors in Iran accounting for 20–50% of the total private investment. One of the prime investment targets of well off Iranians as tangible.

In national accounts, net output is equivalent to the gross value added during an accounting period when producing enterprises use inputs (labor and capital assets) to produce outputs. Gross value added is called "gross" because it includes depreciation charges or consumption of fixed capital. The calculation is importantly influenced by the definition of expenditures and incomes included within the scope of "production" - some incomes and expenditures are included as "factor income" or "factor expenditure" directly related to production, other are not. The calculation involves an accounting procedure of "grossing and netting" the revenues which enterprises obtain from their outputs of goods and services, in order to establish what the real value of those outputs is.

The gross domestic product, which is considered as the main factor of economic development, was 2 billion 339 million manat in 2013, has increased by 8.4 times, compared to the same period of 2003. In 2013, the Gross Domestic Product per capita increased by 6.9 times in comparison with 2003 and amounted to 5423 manat. Compared to 2003, the industrial output increased by 49 times in 2013, investments directed to fixed capital by 16.4 times, agricultural sector by 4.7 times, transport sector by 2.6 times, information and communication services by 10.3 times. retail trade turnover by 11.1 times, income per capita by 8.8 times, and the average monthly salary increased by 9.8 times.

In addition to fixed capital, each enterprise is allocated a minimum of working capital from the state through the Central Bank and is required to meet operating expenses with the proceeds from sales of its output. Up to 50% of the "profit" is taxed, the remaining half being kept by the enterprise for purchase of equipment, introduction of new technology, welfare benefits, and bonuses. As such, the system provides some built-in incentives and a degree of micro-level autonomy, unlike the budget allocation system, under which any surplus is turned over to the government in its entirety. Another innovation, the August Third People's Consumer Goods Production Movement, is centred on consumer goods production.

The period from 1870 to 1890 saw the greatest increase in economic growth in such a short period as ever in previous history. Living standards improved significantly in the newly industrialized countries as the prices of goods fell dramatically due to the increases in productivity. This caused unemployment and great upheavals in commerce and industry, with many laborers being displaced by machines and many factories, ships and other forms of fixed capital becoming obsolete in a very short time span. > "The economic changes that have occurred during the last quarter of a > century -or during the present generation of living men- have unquestionably > been more important and more varied than during any period of the world's > history".

After the end of Roman rule in Britain in about 410, the kingdom of Dumnonia emerged covering Devon, Cornwall and Somerset, based on the former Roman civitas and named after the pre-Roman Dumnonii. Gildas castigated King Constantine, who was probably a second generation ruler of Dumnonia in the early sixth century. The Roman episcopal structure survived, and shortly before 705 Aldhelm, abbot of Malmesbury, wrote a letter to King Geraint of Dumnonia and his bishops. Exeter, known as “Caer Uisc”, may have been central to the kingdom but some historians and antiquaries have speculated that the Kings of Dumnonia may have been itinerant with no fixed capital and moved their court from place to place.

Government acquisition intended to create future benefits, such as infrastructure investment or research spending, is called gross fixed capital formation, or government investment, which usually is the largest part of the government."Gross capital formation" Statistics Explained European Union Statistics Directorate, European Commission Acquisition of goods and services is made through production by the government (using the government's labour force, fixed assets and purchased goods and services for intermediate consumption) or through purchases of goods and services from market producers. In economic theory or in macroeconomics, investment is the amount purchased per unit of time of goods which are not consumed but are to be used for future production (i.e. capital). Examples include railroad or factory construction.

Trakia Economic Zone (TEZ) in Plovdiv is an industrial and commercial area and one of the biggest economic projects in Bulgaria. It includes six major industrial zones in the region of Plovdiv with a total area of of which is occupied. More than 180 Bulgarian and multinational companies operate in TEZ which employ over 30,000 people. Since 1995, TEZ has attracted over EUR 1.1 billion of fixed-capital investments. invest.plovdiv.bg Thanks to the achievements of Trakia Economic Zone, the city of Plovdiv has ranked amongst the top three in the category "FDI strategy" in the ranking “European cities of the future 2018/2019 (Top 10 Small European cities of the Future 2018/2019)” of the renowned British edition “Financial Times”.

Nell draws in the same way on the Keynesians, but looks to the older Quantity Theorists for accounts of monetary circulation, and draws on the Ricardians for the theory of value while he looks to Joseph Schumpeter for an approach to innovation and competition. In 2004 Monetizing the Classical Equations, which had been circulating for three years was finally published. It finally pulls the story of monetary circulation together, detailing how the pressures of transformational growth – including the emergence of fixed capital and the finance necessary for it — led to systematic changes first in the monetary system, then in banking, with the result that the way the interest rate is determined changed significantly.Nell, E.J. (2004) "Monetizing the Classical Equations: A Theory of Circulation", Cambridge Journal of Economics.

The country has more than $100 billion export in 2015 with high, $9.003 billion trade surplus, of which 79% went to the EU and 21% was extra-EU trade. Hungary has a more than 80% privately owned economy with 39,1% overall taxation, which provides the basis for the country's welfare economy. On the expenditure side, household consumption is the main component of GDP and accounts for 50 percent of its total use, followed by gross fixed capital formation with 22 percent and government expenditure with 20 percent. Hungary continues to be one of the leading nations for attracting foreign direct investment in Central and Eastern Europe, the inward FDI in the country was $119.8 billion in 2015, while Hungary invests more than $50 billion abroad.

In 1926, with the collaboration of the Imperial Japanese Army, Noguchi established "Chosen Electric Power" and "Chosen Chisso Hiryo". The former developed Pujon and Chagjin branches of the Yalu River in northern Korea with a number of huge hydraulic power plants, which supplied a number of huge electrochemical plants, producing a diverse range of products, from fertilizer and explosives to soda and metals. Noguchi suffered from an intracranial hemorrhage while at Seoul in 1940, and began to withdraw from active involvement in his conglomerate, which by 1941 had invested 659 million Yen, 66 percent of the fixed capital in the Nichitsu Group, in Korea. Within Korea, 34 percent of all the industrial production in 1939 was made by the Nichisu group.

Economic depreciation rates are calculated on the basis of the observed average market prices that depreciated assets at different ages actually sell for. Sometimes statisticians try to estimate the average "service lives" of fixed assets as a basis for calculating depreciation and scrap values, based on the observed length of time that fixed assets are actually held and used by their owners who own the business. Almost always, the capital stock estimate which statisticians arrive at is a theoretical estimate based on a variety of data sources, and it does not correspond to the historical cost of fixed assets nor to actual depreciation write-offs. However, it is believed to be a more accurate representation of the true value of the fixed capital stock.

The Dutch merchants were the pioneers in laying the basis for modern corporate governance. The VOC is often considered as the precursor of modern corporations, if not the first truly modern corporation. It was the VOC that invented the idea of investing in the company rather than in a specific venture governed by the company. With its pioneering features such as corporate identity (first globally-recognized corporate logo), entrepreneurial spirit, legal personhood, transnational (multinational) operational structure, high stable profitability, permanent capital (fixed capital stock), freely transferable shares and tradable securities, separation of ownership and management, and limited liability for both shareholders and managers, the VOC is generally considered a major institutional breakthrough and the model for the large-scale business enterprises that now dominate the global economy.

A production price for outputs in Marx's sense always has two main components: the cost-price of producing the outputs (including the costs of materials, equipment, operating expenses, and wages) and a gross profit margin (the additional value realized in excess of the cost-price, when goods are sold, which Marx calls surplus value). Marx's argument is that price-levels for products are determined by input cost-prices, turnovers and average profit rates on output, which are in turn determined principally by aggregate labour-costs, the rate of surplus value and the growth rate of final demand.Peter Flaschel and Willi Semmler, "The dynamic equalization of profit rates for input-output models with fixed capital", in: Willi Semmler (ed.), Competition, stability and non-linear cycles. Berlin: Springer Verlag, 1986, pp. 1-34.

The recovery following a depression is based on replacement of labor-intensive techniques that have become uneconomic at the low prices and profit margins following the crash. This new investment in less labor-intensive technology takes market share from competitors by producing at lower cost while also lowering the average rate of profit and thus explains the actual mechanism for both economic growth with improved technology and a long run tendency for the rate of profit to fall. The recovery eventually leads to another boom because the lag for gestation of fixed capital investment results in prices that continue such investment until eventually the completed projects deliver overproduction and a crash.Maksakovsky, Pavel [2009] The Capitalist Cycle Haymarket There is a long history of interpreting Crisis theory, rather as a theory of cycles than of crisis.

Cheltenham, UK, Brookfield, US 1996.For the difference between wage workers and working animals or slaves confer: John R. Bell: Capitalism and the Dialectic - The Uno-Sekine Approach to Marxian Political Economy, p. 45. London, Pluto Press 2009 Albert Einstein, in his description of the LTV, argues similarly: "It is important to understand that even in theory the payment of the worker is not determined by the value of his product."Albert Einstein: "Why Socialism?". Originally published 1949 in Monthly Review Marx writes on this: “In the slave system, the money-capital invested in the purchase of labor-power plays the role of the money-form of the fixed capital, which is but gradually replaced as the active period of the slave’s life expires.”Karl Marx Capital, volume II, chapter XX. www.marxists.

Until the 16th century, the Solomonic Emperors of Ethiopia usually had no fixed capital town, but instead lived in tents in temporary royal camps as they moved around their realms while their family, bodyguard and retinue devoured surplus crops and cut down nearby trees for firewood. One exception to this rule was Debre Berhan, founded by Zara Yaqob in 1456; Tegulet in Shewa was also essentially the capital during the first century of Solomonic rule. Gondar was founded by Emperor Fasilides around the year 1635, and grew as an agricultural and market town. There was a superstition at the time that the capital's name should begin with the letter 'Gʷa' (modern pronunciation 'Gʷe'; Gonder was originally spelt Gʷandar), which also contributed to Gorgora's (founded as Gʷargʷara) growth in the centuries after 1600.

Statistical measures of fixed investment, such as provided by the Bureau of Economic Analysis in the United States, Eurostat in Europe, and other national and international statistical offices (e.g., the International Monetary Fund), are often considered by economists to be important indicators of longer-term economic growth (the growth of output and employment) and potential productivity. The more fixed capital is used per worker, the more productive the worker can be, other things being equal. For example, a worker who tills the soil only with a spade is normally less productive than a worker who uses a tractor-driven plough to do the same work, because with a tractor one can plough more land in less time, and thus produce more in less time, even if a tractor costs more than a spade.

The argument is then that machines are replacing workers in the sense that more output is being produced by the same number of workers. In addition, the overall US labour force has increased dramatically, resulting in a massive reduction in the percent of the labour force engaged in industry (from over 35% in the late 1960s to under 20% today). Industry (and specifically manufacturing) is thus less prominent in American life and the American economy now than in over a hundred years. However, the interpretation that manufacturing employment declined as a result of replacing people with machines has not addressed the issue that US non-financial firms seriously dropped their investment in fixed capital as a percent of operating profits between 2001 and 2009 (see NIPA accounts at www.bea.gov).

The 2008 UNSNA revision therefore recommends that all military expenditure that meets general UNSNA criteria for capital formation (investment in goods which are used in production for more than one year) will be treated as capital formation. Weapons systems and military inventories will be separately distinguished within fixed capital formation and inventories . This approach somewhat increases the measure of total GFCF and by implication the total GDP of arms- producing countries, because expenditures and sales of weaponry are very large, especially in the United States and Europe. According to the Swedish research institute SIPRI, global military expenditure by governments in 2008 is estimated to have totaled $1,464 billion, or approximately 2.4% of the value of world GDP in 2008, but arms expenditure is only one component of this expenditure.

According to the ECMS, the municipality has 15 plants freezing and packing of fruit, mainly strawberries. 2 soft drink bottlers, and a power generating plant of the CFE, located in the tenure of the Pantanal. Agribusiness is considered by municipal authorities as one of the main activities of the municipality. In 1994 the main features of the manufacturing establishments were: 435 affordable units were surveyed, the average total employed persons was 7 000 952, the total compensation to persons employed were 89 thousand 787 thousand pesos, net fixed assets totaled the amount of 104 thousand 597.1 thousand pesos, gross fixed capital was 23 thousand 016 thousand pesos, the total gross output reached 316 000 382.0 thousand pesos, total inputs reached 195 000 573, 9 thousand dollars and the value added was 808.1 thousand 120 thousand pesos.

His main conclusion though is that employers will aim to maximise the productivity of labour and economise on the use of labour, to reduce their unit-costs and maximise their net returns from sales at current market prices; at a given ruling market price for an output, every reduction of costs and every increase in productivity and sales turnover will increase profit income for that output. The main method is mechanisation, which raises the fixed capital outlay in investment. In turn, this causes the unit-values of commodities to decline over time, and a decline of the average rate of profit in the sphere of production occurs, culminating in a crisis of capital accumulation, in which a sharp reduction in productive investments combines with mass unemployment, followed by an intensive rationalisation process of take-overs, mergers, fusions, and restructuring aiming to restore profitability.

If variable capital paid = V, circulating constant capital consumed = C_c, fixed capital consumed = C_f, and surplus value produced = S, then: :VP_n = C_c+C_f+V+S = Gross Output and :VP = V+S = true new value added So, Marx's "value product" really expressed his view of the true total new value added or the net product. In his view, this total is equal to the value of wage payments + surplus value, the latter which would include, apart from net profit, interest and rent, the net tax levy and royalty-type fees paid in respect of incomes generated by production of output, plus the surplus-value component of unsold inventories of new output. Marx himself never discussed taxation and royalty-income in detail; they were only a small portion of the total national income when he lived (around 5-10% or so).

This caused a decline of labor-intensive industries, like the textile industry, and of capital-goods industries like shipbuilding (both suffering from a lack of innovation also, which made it even more difficult to conquer foreign markets). That decline was only partially compensated by the growth of industries requiring proximity to ports, or large inputs of skilled labor (which was still in abundant supply) and fixed capital. The agricultural sector, faced with the same pressures, specialized in two directions: less labor-intensive livestock raising on the one hand, and very labor-intensive industrial crop production on the other. Trade shifted from the intra-European "mother trade" serving the Baltic and the Mediterranean to intercontinental trade (colonial wares) and distribution to the German hinterland (which was now a rising market again, after finally recovering from the ravages of the Thirty Years' War).

Gross capital formation in % of gross domestic product in world economy Gross fixed capital formation (GFCF) is a macroeconomic concept used in official national accounts such as the United Nations System of National Accounts (UNSNA), National Income and Product Accounts (NIPA) and the European System of Accounts (ESA). The concept dates back to the National Bureau of Economic Research (NBER) studies of Simon Kuznets of capital formation in the 1930s, and standard measures for it were adopted in the 1950s. Statistically it measures the value of acquisitions of new or existing fixed assets by the business sector, governments and "pure" households (excluding their unincorporated enterprises) less disposals of fixed assets. GFCF is a component of the expenditure on gross domestic product (GDP), and thus shows something about how much of the new value added in the economy is invested rather than consumed.

Volume III is in seven parts: # The conversion of Surplus Value into Profit and the rate of Surplus Value into the rate of Profit # Conversion of Profit into Average Profit # The Law of the Tendency of the Rate of Profit to Fall # Conversion of Commodity Capital and Money Capital into Commercial Capital and Money-Dealing Capital (Merchant's Capital) # Division of Profit Into Interest and Profit of Enterprise, Interest Bearing Capital. # Transformation of Surplus-Profit into Ground Rent. # Revenues and Their Sources The work is best known today for Part 3 which in summary says that as the organic fixed capital requirements of production rise as a result of advancements in production generally, the rate of profit tends to fall. This result which orthodox Marxists believe is a principal contradictory characteristic leading to an inevitable collapse of the capitalist orderChapther XV, Exposition of the Internal Contradictions of the Law, § IV Supplementary Remarks.

Most industrial facilities in the food industry worked significantly below their installed capacity even in prosperous years such as 1937. Several large factories, such as the Basarabeasca, Cetatea Albă, Florești and Tighina, railway workshops, the Cetatea Albă and Chișinău textile and knitwear factories and the Cetatea Albă canning factory and distillery were dismantled and relocated to the Old Kingdom by 1938. Between 1929 and 1937, fixed capital in the industry dropped by 10%, and the number of industrial workers in Bessarabia dropped from 5,400 in 1925 to 3,500 in 1937, while their overall number in Romania had increased by almost 27% during the same period. Between 1926 and 1937 the share of the food industry in the total production of large manufacturing industries increased from 77.1% to 92.4%, with sharp decreases observed in sectors with higher added value, such as the metalworking, textile and leather processing industries.

The equation of new value added with net output or GDP (also known as gross value added) would have made no sense to Marx, mainly because net output includes depreciation (or the consumption of fixed capital), yet excludes various property rents paid by producing enterprises from their gross income (on the ground that renting out an asset does not itself constitute production) as well as a portion of net interest (regarded as property income). As regards depreciation, for Marx the value of real depreciation at least did not constitute any new value, but, value conserved and transferred to the new products by living labor. It appeared as added value, only because when costs are deducted from gross sales income to obtain net profit, depreciation is regarded as a component of the new gross profit income. In official national accounts, a distinction is made between gross value added (including depreciation charges) and net value added (excluding them).

Recent research by Georgiy Revyakin proved initial Vernon theory and showed economic cycles in developed countries overran economic cycles in developing countries.He also presumed economic cycles with different periodicity can be compared to the products with various life-cycles. In case of Kondratiev waves such products correlate with fundamental discoveries implemented in production (inventions which form the technological paradigm: Richard Arkwright's machines, steam engines, industrial use of electricity, computer invention, etc.); Kuznets cycles describe such products as infrastructural components (roadways, transport, utilities, etc.); Juglar cycles may go in parallel with enterprise fixed capital (equipment, machinery, etc.), and Kitchin cycles are characterized by change in the society preferences (tastes) for consumer goods, and time, which is necessary to start the production. Highly competitive market conditions would determine simultaneous technological updates of all economic agents (as a result, cycle formation): in case if a manufacturing technology at an enterprise does not meet the current technological environment, – such company loses its competitiveness and eventually goes bankrupt.

But occasionally a complete industrial plant is purchased, dismantled and reassembled somewhere else. Because GFCF conceptually includes many transactions in used fixed assets by resident firms, which are valued lower than new assets, this creates problems for the estimation and valuation of the gross capital stock. If enterprise A sells a used asset to enterprise B, the valuation errors caused by the way that A and B each report this transaction will cancel out only if an overstatement of A’s reported GFCF is exactly matched by the understatement in B’s reported GFCF. But if assets migrate from one industry to another, or are imported and exported, or (in the case of means of transport) switch between different uses, the errors will persist. It may appear as though the total fixed capital stock has grown, even although the “net addition to fixed assets” refers only to the change in ownership of an already existing asset.

Under the Solomonic dynasty, the chief provinces became Tigray (northern), what is now Amhara (central) and Shewa (southern). The seat of government, or rather of overlordship, had usually been in Amhara or Shewa, the ruler of which, calling himself nəgusä nägäst, exacted tribute, when he could, from the other provinces. The title of nəgusä nägäst was to a considerable extent based on their alleged direct descent from Solomon and the queen of Sheba; but it is needless to say that in many, if not in most, cases their success was due more to the force of their arms than to the purity of their lineage. Under the early Solomonic dynasty Ethiopia engaged in military reforms and imperial expansion which left it dominating the Horn of Africa, especially under the rule of Amda Seyon I. There was also great artistic and literary advancement at this time, but also a decline in urbanisation as the Solomonic emperors didn't have any fixed capital, but rather moved around the empire in mobile camps.

After the Carnation Revolution's turmoil of 1974, the Portuguese economic basis changed deeply. The Portuguese economy had changed significantly by 1973 prior to the leftist military coup, compared with its position in 1961 – total output (GDP at factor cost) had grown by 120 percent in real terms. Clearly, the prerevolutionary period was characterized by robust annual growth rates for GDP (6.9 percent), industrial production (9 percent), private consumption (6.5 percent), and gross fixed capital formation (7.8 percent). In 1931, at the initiation of Salazar's more outward-looking economic policy due to the influence of a new generation of technocrats with background in economics and technical-industrial know-how, Portugal's per capita GDP was only 38 percent of the EC-12 average; by the end of the Salazar period, in 1968, it had risen to 48 percent; and in 1973, on the eve of the revolution, Portugal's per capita GDP had reached 56.4 percent of the EC-12 average. In 1975, the year of maximum revolutionary turmoil, Portugal's per capita GDP declined to 52.3 percent of the EC-12 average.

Hungary's productive capacity is more than 80% privately owned, with 39.1% overall taxation, which funds the country's welfare economy. On the expenditure side, household consumption is the main component of GDP and accounts for 50% of its total, followed by gross fixed capital formation with 22% and government expenditure with 20%. In 2009 Hungary, due to strong economic difficulties, had to request the help of the IMF for about €9 billion.European Stability Mechanism#cite note-IMF+World Bank+BoP-47European Stability Mechanism#cite note-76European Stability Mechanism#cite note-Converting of 10.5 SDR to Euro-78 Hungary continues to be one of the leading nations in Central and Eastern Europe for attracting foreign direct investment: the inward FDI in the country was $119.8 billion in 2015, while Hungary invests more than $50 billion abroad. As of 2015, the key trading partners of Hungary were Germany, Austria, Romania, Slovakia, France, Italy, Poland and the Czech Republic. Major industries include food processing, pharmaceuticals, motor vehicles, information technology, chemicals, metallurgy, machinery, electrical goods, and tourism (in 2014 Hungary welcomed 12.1 million international tourists). Hungary is the largest electronics producer in Central and Eastern Europe.

The Yongle Emperor began the preparation for relocating the imperial capital to Beiping in 1403, a process that lasted throughout his entire reign.Mingjian Gangmu, Volume 2: 二月，以北平為北京。設北京留守，行後軍都督府，行部，國子監。改北平曰順天府。Mingjian Gangmu, Volume 2: 秋八月，徙富民實北京。時發流罪以下墾北京田，又徙直隸、蘇州等十郡、浙江等九省富民實之。 The construction of the future Forbidden City along with the restructuring of the Grand Canal were constantly ongoing. In 1420, the reconstruction of Beiping City was completed, and the Ming Dynasty officially relocated the imperial capital to Beiping and renamed the city to Beijing.History of Ming, Volume 6: 九月丁亥，诏自明年改京师为南京，北京为京师。 With the exception of Republic of China between 1928 and 1949, Beijing remains to be the fixed capital of China ever since.