In a global economy, a low-priced solar cell, like a low-priced laptop computer, may come to be seen as a low-value added commodity, one that is the basis for other, more high-value added products.
What great books like The Second Machine Age now make clear is that unless our skills system starts to catch up with the speed of scientific and industrial change, we'll become a low pay, low skill, low value added nation.
A given country has an increasing returns productive structure if it produces high value added commodities that are technically sophisticated and the reverse holds a decreasing returns economic structure is composed of low value added commodities that are technologically simple.
So Greece will continue to rely on the low value added informal economy.
Both are low value added and belong to sectors exposed to intense international competition.
For example, many western cities welcome without any wise tradeoffs the decaying industries transferred from the eastern part of China that pollute the environment and give low value added.
The methodology and tools developed identify low value adding tasks and poor value adding ability of the performers, using both quantitative as well as qualitative information.
That is unless you believe our future is in low value add services or manufacturing, investment banking, tort lawyers or asphalt ready construction jobs.
Poorly protected or medium-low value added classes (vineyards, arable land, olive groves and pastures) experienced fragmentation processes compared with protected or high-value added classes (e.g. forests, olive groves) showing larger 'core' areas and lower fragmentation.
"If you leave a low value-added teacher in your school for 10 years, rather than replacing him with an average teacher, you are hypothetically talking about $2.5 million in lost income," said Professor Friedman, one of the coauthors.
Furthermore, glutamate is a low value-added product.
