The Economics of the Modern Construction Sector [Hardcover]

This book will be of interest to built environment professionals and to students of the economics and management of the built environment. It shows the value of integrating ideas and data about the production of the built environment as an industrial process with theories and data about the demand for construction. The approach taken is institutional and post-Keynesian, and illuminates an important and distinctive sector of the economy, embracing design, construction and property industries. This book offers some new and important perspectives for research and teaching in construction economics and management.List of Tables List of Figures Preface List of Acronyms PART I: PRODUCTION Construction and Value Added The Capitalist Construction Industry Labour Market Productivity and the Production of Profits PART II: ACCOUNTING FOR PRODUCTION AND ASSETS The Logic of Accounts Value of Stock and Flows of Built Capital at National Level Ownership of and Investment in Built Stock and Land PART III: THE NATURE OF THE CONSTRUCTION PROCESS Actors and Roles The Contracting System PART IV: CONSTRUCTION AND THE ECONOMY Construction Investment, the Multiplier and the Accelerator Economic Growth and Construction Cycles Bibliography and References IndexGRAHAM IVE is Senior Lecturer in the Economics of Construction at the Bartlett School, University College London. He is the author of a book on the Private Finance Initiative (1998) and an economic adviser to the Construction Industry Council.

STEPHEN GRUNEBERG is a Lecturer on the Construction Management degree at the Bartlett School, University College London. His publications include Construction Economics: An Introduction, and Feasibility Studies in Construction (with D.Weight).