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Allocation of resources, apportionment of productive assets among different uses.
Price spikes also result in distress sales of productive assets and foregone education and health care.
It gauges the flow of economic activity in a country, not its stock of productive assets.
Japan's banks and industrial giants could use a way to fail without shutting down productive assets.
Some of the debt is for new mines and other productive assets.
Would it not be better for savings to be channelled into more productive assets?
Even the International Monetary Fund's austerity rules allow capital borrowing against the creation of productive assets.
Investment in productive assets is low in an international context, hampering innovation and growth.
These measures would concentrate investment in unproductive rather than productive assets.
How can you maintain and build productive assets when most education takes place in your 20s?
"People liquidated their productive assets and their poverty was transmitted to the next generation," says Mr Frenk.
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