Because the input-output model is fundamentally linear in nature, it lends itself well to rapid computation as well as flexibility in computing the effects of changes in demand.
The structure of the input-output model has been incorporated into national accounting in many developed countries, and as such forms an important part of measures such as GDP. An understanding of the economy as consisting of linked sectors goes back to the French economist François Quesnay, but was developed in full generality by Léon Walras in 1874. Leontief's contribution was to state the model in such In addition to studying the structure of national economies, input-output economics has been used to study regional economies within a nation, and as a tool for national and regional economic planning. Indeed a main use of input-output analysis is for measuring the economic impacts of events as well as public investments or programs as shown by IMPLAN and RIMS-II. But it is also used to identify economically related industry clusters and also so-called "key" or "target" industries--industries that are most likely to enhance the internal coherence of a specified economy. By linking industrial output to satellite accounts articulating energy use, effluent production, space needs, and so on, input-output analysts have extended the approaches application to a wide variety of uses.
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Other articles related to "usefulness":
... Davis 1989) to provide empirical evidence on the relationships that exist between usefulness, ease of use and system use (Adams, Nelson Todd 1992 Davis 1989 Hendrickson, Massey Cronan 1993 Segars Grover 1993 ... postulated a different model based on three constructs usefulness, effectiveness, and ease-of-use ... Davis’s model into what they call the Usefulness/EOU Grid, which is a 2×2 grid where each quadrant represents a different combination of the two attributes ...
... or extrinsic worth of a business measured by a combination of financial success, usefulness to society, and satisfaction of employees, the priorities determined by ... of the difficulty of determining equivalent measures for usefulness to society and satisfaction of employees ... For instance, how much additional "usefulness to society" should shareholders expect if they were to give up $100 million in shareholder return? In response to this criticism, defenders of the stakeholder ...
... in their correspondence with reality, but in their usefulness and efficacy ... Since the usefulness of any belief at any time might be contingent on circumstance, Peirce and James conceptualised final truth as something only established by the future, final settlement of all opinion ... victim to a simple fallacy because something that is true proves useful, that usefulness is the basis for its truth ...
... Classen's logarithmic law of usefulness is named after technologist Theo A ... in 1999 when he was CTO of Philips Semiconductors Usefulness = log(Technology) The law can also be expressed as Technology = exp(Usefulness) ...
Famous quotes containing the word usefulness:
“Human life consists in mutual service. No grief, pain, misfortune, or broken heart, is excuse for cutting off ones life while any power of service remains. But when all usefulness is over, when one is assured of an unavoidable and imminent death, it is the simplest of human rights to choose a quick and easy death in place of a slow and horrible one.”
—Charlotte Perkins Gilman (18601935)
“But, in history, practical usefulness never determines the moral value of an achievement. Only the person who increases the knowledge humanity has about itself and enhances its creative consciousness permanently enriches humanity.”
—Stefan Zweig (18811942)
“A public man must never forget that he loses his usefulness when he as an individual, rather than his policy, becomes the issue.”
—Richard M. Nixon (19131995)