Author : Johnny Ch Lok
Publisher : Independently Published
ISBN 13 : 9781096628590
Total Pages : 128 pages
Book Rating : 4.6/5 (285 download)
Book Synopsis UK And US Future Unique Technology by : Johnny Ch Lok
Download or read book UK And US Future Unique Technology written by Johnny Ch Lok and published by Independently Published. This book was released on 2019-05-02 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the future, US will have many key importance of high growth firms. US capitalism entails a process of creative destination. New ideas continuously challenges act structures, giving rise to structural transformation as successful innovations and new products firms and industries will arise and obsolete ones will decline in US society. Martin, J. P. (2012) studies pointed to high-growth forms ( sometimes known as gazelles) as the main drivers of this process. In the US, an estimated 1% of firms creation 40% of all new jobs and 5% create almost 70% of new jobs. A review of the studies of US firms growth reveals some common findings . US high-growth firms are crucial to net job growth, generating a large share of all net jobs . This is particularly pronounced in recessions, when US high-growth firms continue to grow when other US firms deadline. US small firms are over-represented among high-growth firms, but these US firms come in all sizes . A small subgroup of large high growth firms are major job creators. Such as US high -growth firms are younger on average, US young and small high high-growth firms grows, not through mergers and acquisition and make a larger contribution to net employment growth than do US larger and older higher growth firms, high growth firms are present in all industries. Through they are slightly overrepresented in service industries in US.Some economists predict that future US will be a flexible labor market, the marginal product of labor and the average wage in an industry should tend toward equally across US firms. Taking advantage of a legislative change to raise cost to US employers a study measured the gap between the marginal product of labor and the average wage in an industry before and after the reform. The gap increased after the legislation, which suggests that the legislation reduced allocative efficiency. Their studies have suggested that total factor productivity could increase by as much as 30% in China and India of they were to attain the US level of allocative efficiency across firms within individual industries. The result implies that plants with low total factor productivity are too large and plant with high total factor productivity are too small relative to the US benchmark of allocative efficiency.What is allocative efficiency meaning? It occurs when the mix of product produced matches consumer preferences ( where marginal benefit equals marginal cost). There products and services are the most profitable, thereby promoting economic growth other research also indicate a strong quantitative effects of strict employment protection legislation on the rate of reallocation in US industries experiments. By relaxing employment protection rules to US developed countries, such as UK, UK etc. with the strictest legislation could increases their reallocation rate by an estimated 50% in the most dynamic sectors, those that benefit most from flexibility.The effect appears to be particularly strong on the entry-exist margin, which is arguably, especially importation for creative destruction. In future US, if manufacturing industry can have high technological production method to achieve reallocation rate to efficiency to every manufacturing industry. It can have benefit to economic growth, due manufacturing process can be move efficient to avoid cost.