They point to ratios of capital to output, which are surprisingly stable over time despite tax swings.
Capital goods output has contracted in eight of the 11 months till February.
As the ONS points out, cheaper labour is an incentive for bosses to use labour where otherwise investment in capital could boost output.
The market compensates according to how well consumers value our output and how efficiently we utilize capital.
If that capital cost has fallen for the same energy output then obviously the return is far higher now and should be revised.
If amortizing this outlay costs 10% a year, the capital cost adds 14 cents to a gallon of output.
Jonathan Loynes of Capital Economics said the broad-based decline in output signified that the economy was likely to be weak for some time.
When fewer workers can produce more output whether it is through capital investment or methods improvement, competitiveness improves but at the cost of lower employment.
Assuming extra investment increases output by progressively smaller amounts as the capital stock expands, then at some point extra investment will reduce, not increase, the long-run sustainable level of consumption.
These firms in turn favour capital-intensive investment projects, which add more to the output figures than to the payrolls.
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Certainly, social protection does carry economic costs, reducing the amount of output that can be squeezed from any given amount of capital, labour and other resources.
Economic recovery depends partly on domestic policies, but also on external factors and especially on commodity prices, output growth in rich countries and the size of private capital flows.
If he invests more capital in the business to expand production, or hires more workers to increase output, that may result in higher net taxable income.
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Between 1986 and 1991, total factor productivity the increase in output due to more efficient use of inputs such as labour and capital in Taiwan's electrical-machinery industry rose 23.6%.
But with output declining, Pemex hopes to find some way to bring in foreign capital and expertise.
Match that with capital, and those extra years in the workforce could mean significant gains in economic output, perhaps a trillion dollars a year.
Higher taxes on capital gains and dividends, abstracting from issues of equity and fairness, reduce real economic growth, cause weaker consumption and decreases in business capital spending, reduce employment, and labor force growth, and help bring about less potential output.
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"We are seeing an output gap based on overcapacity in the economy, " explained Chad Cunningham, CIO for IronHorse Capital Management.
Ireland and Cyprus come to mind as economies where banks are a bit bigger relative to GDP, or economic output, and we've all seen what happened there when their banks ran out of capital.
Paul Ashworth, an economist at Capital Economics, said that depending on how long flooding lasts, the hurricane could maybe shave one tenth of US output during the quarter.
Compared to the estate tax provisions in current law, and after all economic adjustments, repeal of the estate tax would increase GDP by about 2.25 percent, private sector output and labor income (hours worked times hourly wage) by about 2.34 percent, and capital stock by 6.1 percent.
In the three countries in the study where human capital improved the fastest between the older and the younger generations (Belgium, Finland and Italy), growth in output per worker rose much faster than average between 1960 and 1995, while in those with least improvement in skills (New Zealand, Sweden and the United States), growth was slower.
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