Archive for category Economics
Equity Versus Efficiency | Building Economics
Efficiency in Economics
Capability and able to perform duties well. The efficiency in production of building materials is high as there is competition and those who work in production are offered annual bonus depending upon the profits made by companies.
The efficiency in construction industry is generally high if the projects are handled by Architects, Engineers, and experienced builders. Unfortunately many constructions re handled by builders who are not experienced.
This is due to the ignorance of the public and loss of investments by the public. Most of such constructions are mediocre.
Equity in Economics
The central Government helps the public in offering fair rates of interest of the public invests in Central Schemes like Indira Vikaas Patrika (IVP), Postal Savings schemes which offer Monthly income schemes on investment in Postal saving schemes and they offer interest on fixed deposit also. Share market is most risky as it is volatile.
Public versus Private Participation relating to Architecture and Engineering
Public Participation versus Private Participation
Public sectors like HUDCO, Hindustan steel, Heavy Engineering corporation etc are controlled by Central Government, Nizam Sugars, Allwyn Ltd, Praga tools etc are controlled by the State Government of AP (Andhra Pradesh).
As far as Building Industry is concerned, materials like cement, steel, wood, aluminium, brick manufacture, variety of floor tiles, wall tiles, electrical materials, plumbing and sanitary ware and fittings etc (to mention only few) are produced in India resulting in quality products, at various price levels to suit different economic levels of social strata.
Only Housing meant for central/state government employees is controlled by central or State governments. The housing for weaker sections are taken care of by State governments as a policy of Government.
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Labour Intensive Projects Versus Capital Intensive Projects
Labour Intensive Industry versus Capital Intensive Industry
There is a problem of choosing between labour intensive industries or Labour intensive methods and Capital Intensive industries or Capital Intensive Methods. In under developed countries, due to chronic unemployment or cheap labour to capital is preferred.
The most efficient use of resources in less developed countries will tend to favour labour intensive methods. For innovations, it would also follow the Capital Saving and Labour – using innovations, it would be preferred. It would be profitable to adopt capital-intensive techniques to increase productivity.
If the export industries are capital-intensive such as mining and mineral refining, then, even though there is surplus labour, extensive investment has to be done in order to earn necessary Foreign Exchange.
For example, In India, Labour force is available in plenty. This is the reason most of the building industry is Labour Intensive including both skilled and unskilled labour.
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