Economics of Productive Consumption as an Off shoot
of Main Currents of Economic Theory Cover Image

Ekonomie produktivní spotřeby jako přesah hlavního proudu ekonomické teorie
Economics of Productive Consumption as an Off shoot of Main Currents of Economic Theory

Author(s): Radim Valenčík, Petr Wawrosz
Subject(s): Socio-Economic Research
Published by: Vysoká škola finanční a správní, a.s.
Keywords: economics of productive consumption; utility; interest; capital contract; transferred price; productive services sector

Summary/Abstract: This article presents economics of productive consumption (EPC) as a relatively new and forward-looking trend in economic theory that reacts to the modern expansion in services associated with the acquisition, retention, and application of human capital. This article explains the substance of EPC, including the question of how and in what way it goes beyond contemporary neoclassical economic paradigms. It demonstrates that EPC seeks to fi nd the general principles of human behavior, and yet also draws on current conditions. For this reason it compares the approaches used in EPC with those of classical and neoclassical economics, providing a view of how EPC is associated with other off shoots of neoclassical economics and why EPC is growing in the contemporary era.

  • Issue Year: 13/2019
  • Issue No: 2
  • Page Range: 113-134
  • Page Count: 22
  • Language: English