The United States

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Copyright: 2018
Pages: 28
Source title: Ranking Economic Performance and Efficiency in the Global Market: Emerging Research and Opportunities
Source Author(s)/Editor(s): Benjamen Franklen Gussen (University of Southern Queensland, Australia & Australian Law and Economics Association, Australia)
DOI: 10.4018/978-1-5225-2756-5.ch005

Keywords: Business & Management / Business Science Reference / Economics & Economic Theory / Economics and Economic Theory

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Abstract

This chapter applies the ? model to the United States of America. By assuming that the US is a ‘world-system,' we can measure the economic efficiency of each state (and the District of Columbia). The model predicts an output floor based on the inputs of land and people as per-unit energy-equivalents. This expected output is then compared to the actual Gross State Product (GSP) as a per-unit energy-equivalent. States that are economically efficient register a positive residual, and hence a positive ? score. However, given potential measurement inaccuracies, states with low negative scores are also added to this efficient tier.

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