Page 27 - Azerbaijan State University of Economics

N.Akimov., S.Baizakov., A. Oinarov., E.Utembayev: The analysis of the macroeconomic
dynamics and assessment of smart factors’ inputs to the balanced growth rates

Thus, full labor costs of production of the final product are defined by
‗scaling‘ of the product of direct labor intensity of the gross output of all sectors and
of the relevant columns of the matrix of full costs of the model of the inter-sector
balance, in the monetary expression.
The overall result of the analysis and the assessment of the effectiveness of
the impact of regulatory policies on the development of economy is (first) the
equation, which defines the inter-changeable reversibility of the capital in the form
of money and, capital, in the form of goods, and in the reverse order:
(А)

Secondly, the difference between the marginal growth rates of the capital, in
the form of money, in macroeconomics, and of the capital, in the form of goods, in
microeconomics, are defined as follows:
= (В)

Here, the ratio denotes the difference between the marginal growth rates of the

final product (as the indicator of capital, in the form of money) - , and the output of

goods and services (as the indicator of capital in the form of goods) . It may be named

as ‗the marginal utility coefficient of the science and technology changes‘ since it has
emerged as the ‗ex mahina‘ somewhere from above, under the rigid equality between
labor time and capital, spent for production of the final product (Y), in macroeconomics,
and the output of goods and services (Х), in microeconomics.
Such results entail from INSIDE of most socio-economic systems that are
defined by juxtapositioning the solutions of inter-sector economic models of
countries development, built in labor and monetary terms. This impact of the science
and technology potential of the country, as reflected in the book of J. Clark, relating
to the macroeconomic level has been named as ‗an entrepreneurial profit‘ in the
expanded reproduction schemes, built with the account for the scientific and
technical progress by V.I. Lenin, that is, - the surplus profit.
The measure of this impact, in particular, defines the level of the development of
labor production forces and the capital in any given country. The assessment of its level
has been revealed in comparing the speed and velocity of movements of key indicators of
the macroeconomic dynamics, capital, in the form of money, and capital, in the form of
goods.

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