This is the first book to examine the "nuts and bolts" of production processes. It proposes a truly consilient approach to modeling production processes - one that goes beyond the vague principles found in standard economics - and provides details that are consistent with the applied mechanics and engineering literature. Providing a credible analysis of some of the most pressing questions of our era, such as the productivity slowdown and the information paradox, and bridging the gap between engineering, applied physics, economics, and management science, this book is a fascinating read for anyone interested in industry, the modern economy, and how physical factors constrain productivity growth.

This is the first book to examine the “nuts and bolts” of production processes. It proposes a truly consilient approach to modeling production processes – one that goes beyond the vague principles found in standard economics – and provides details that are consistent with the applied mechanics and engineering literature. Providing a credible analysis of some of the most pressing questions of our era, such as the productivity slowdown and the information paradox, and bridging the gap between engineering, applied physics, economics, and management science, this book is a fascinating read for anyone interested in industry, the modern economy, and how physical factors constrain productivity growth.

As Paul Krugman pointed out in his 2013 New York Times Op-Ed piece entitled “The New Growth Fizzle,” idea-based growth theory has been a bust. In this volume, an alternative approach is presented, one that, unlike existing growth theory, is consistent with the laws that govern material processes in general, with the historical record from time immemorial, and with data. Specifically, it provides compelling rationalizations of the 1970s productivity slowdown, Robert Solow’s information paradox and the failure of policy in Western industrialized nations to restore growth rates. Drawing from classical mechanics and thermodynamics, it provides a consilient account of the material processes that were the very subject of political economy in the 19th century and economics in the 20th and 21st centuries.

As organizations grapple with the challenges of a dynamic market, the integration of Artificial Intelligence (AI) emerges not only as a technological progression but a strategic necessity. The transformative potential of AI, particularly through OpenAI, holds the promise of redefining operational paradigms, accelerating innovation, and unlocking unprecedented growth opportunities. However, lurking beneath this promise are challenges that demand urgent attention – from tailoring relevance for specific business units to ethical and safe integration practices. The specifics of how OpenAI can amplify labor productivity and enhance decision-making processes remain elusive. Generative AI and Multifactor Productivity in Business offers a guide surrounding the complexities of OpenAI's role in business operations. It contends that understanding OpenAI is not just beneficial; it is essential for organizations seeking to navigate economic uncertainties and unlock high levels of efficiency and growth. The book delves into the effects of OpenAI on business, with a primary objective of illuminating the scholarly and practitioner-based contributions that push the boundaries of OpenAI in business research. This exploration encompasses applications of advanced generative AI tools, language models, and innovative technologies specific to diverse businesses across sectors, scales, and regions. It emphasizes that as AI becomes more seamlessly integrated into business processes, the potential for multifactor productivity to fuel economic growth, new industries, and job opportunities is unparalleled.

This book is part of a new generation of work on the events of the 1920s and 1930s, one that provides a gestalt view of this period. As such, the many events that have until now been viewed as unrelated, are viewed as parts of a greater whole, namely the introduction of a new power drive technology in the form of electric unit drive and its effects. The Roaring Twenties, the spectacular growth of the 1920s, the Smoot-Hawley Tariff Act, the Stock Market Boom and Crash, the decline in investment expenditure, the ensuing depression and the National Industrial Recovery Act are all shown to be related.

Advanced Machining Processes of Metallic Materials updates our knowledge on the metal cutting processes in relation to theory and industrial practice. In particular, many topics reflect recent developments, e.g. modern tool materials, computational machining, computer simulation of various process phenomena, chip control, monitoring of the cutting state, progressive and hybrid machining operations, and generation and modelling of surface integrity. This book addresses the present state and future development of machining technologies. It provides a comprehensive description of metal cutting theory, experimental and modelling techniques along with basic machining processes and their effective use in a wide range of manufacturing applications. Topics covered include fundamental physical phenomena and methods for their evaluation, available technology of machining processes for specific classes of materials and surface integrity. The book also provides strategies for optimalization techniques and assessment of machinability. Moreover, it describes topics not currently covered in other sources, such as high performance and multitasking (complete) machining with a high potential for increasing productivity, and virtual and e-machining. The research covered here has contributed to a more generalized vision of machining technology, including not only traditional manufacturing tasks but also new potential (emerging) applications such as micro- and nanotechnology. Many practical examples of modern machining technology Applicable for various technical, engineering and scientific levels Collects together 20 years of research in the field and related technical information

Productivity, Technology and Economic Growth presents a selection of recent research advances on long term economic growth. While the contributions stem from both economic history, macro- and microeconomics and the economics of innovation, all papers depart from a common viewpoint: the key factor behind long term growth is productivity, and the latter is primarily driven by technological change. Most contributions show implicitly or explicitly that technological change is at least partly dependent on growth itself. Furthermore, technology appears to interact strongly with investment in physical and human capital as well as with changes in historical, political and institutional settings. Together these papers are an up-to-date account of the remarkable convergence in theoretical and empirical work on productivity and growth over the past decades. The first part deals with the characteristics of growth regimes over longer periods, ranging from 20 years to two centuries. The next four chapters study the determinants of productivity growth and, in some cases, productivity slowdown during the last quarter of the twentieth century. The final five chapters focus on the role of technology and innovation as the key determinants of growth. Productivity, Technology and Economic Growth is, therefore, a welcome collection for academic scholars and graduate students in economics, history and related social sciences as well as for policy makers.