Higher gold prices in recent years also encouraged output at higher-cost mines, Rannestad said.
FORBES: Global Output From Gold Mines In Upswing Although Some Constraints Persist
Then we'd get more economic output at no cost--what a boon to productivity!
But the output of goods less exposed to low-cost competition, such as cars and chemicals, has grown (see chart).
This, of course, still understates the ultimate economic burden of education, its "opportunity cost"--the output that could otherwise be generated by those in school.
Higgins intends to attach to the line 200 megawatts (peak output) of windmills, ostensibly generating electricity at a cost of 7 cents a kilowatt-hour, and has contracted to buy all the output of a 65-megawatt solar plant that would be an eco-loss-leader costing 25 cents per kwh.
Cement output might not increase, or building of low-cost homes accelerate, simply because the state has majority ownership.
Platinum is likely approaching the so-called marginal cost of production, which can trigger output cuts in any commodity, said David Wilson, director of metals research at Societe Generale.
FORBES: Analysts: Too Soon For Platinum Tumble To Hurt Output, But 'Something...To Keep An Eye On'
Cost-cutting, which in a way means increased productivity (if output increased, as appears to be the case from expected GDP increases and continued momentum), came in second, responsible for 7, 659 workers losing their jobs.
FORBES: January Job Cuts Lowest Since '93, Led By Government and Retail Sectors
His book addresses the argument in cost-benefit terms, and concludes that spending 1-2% of global output to avoid a significant temperature rise is a bargain worth taking a similar conclusion to that in his original 2006 study.
Input cost inflation fell to its lowest level in two-and-a-half years, while output price increases moderated to their slowest pace since Q3 2010, bringing a much needed break from relentless inflation. (Read Mantega: Inflation Under Control In Brazil).
FORBES: Emerging Market Growth Fell To Lowest Level In Two Years In Q2
应用推荐