Prognostic Considerations
Prognostic Considerations

Author(s): Jiří Mihola
Subject(s): Supranational / Global Economy, Policy, planning, forecast and speculation
Published by: Masarykova univerzita nakladatelství
Keywords: Forecast; extrapolation; gross domestic product GDP;
Summary/Abstract: Prognostic considerations are a kaleidoscope of different prognostic expressions of both quantitative and qualitative nature. The quantitative considerations are based on the theory published in the monograph Production Functions as a Tool for Representing Economic Reality. The temporal production function is used to forecast the GDP of the economies of the US, China and India to 2030 and 2050 respectively. The prolongation of the absolute level of GDP shows that India, in addition to China, which is already in first place, will be ahead of the US.

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