The construction industry is a microcosm of the economy as a whole,
and as such the economics of the sector contains many of the
aspects of the economy in general, albeit with fascinating and
unique features. What are the implications of economic theory for
the future of UK construction? How does the industry ensure
innovation, quality and efficiency? What priorities might best
serve the construction industry, those working in it and their
customers? In seeking answers to these and other questions, the UK
government has commissioned a number of reports on the construction
industry including the Latham and Egan reports and more recently
Construction 2025. These have invariably proposed time and cost
targets for the construction industry. In this new book, Stephen
Gruneberg stands in stark contrast to those reports and presents
the relevant theoretical aspects of construction economics to
account for the behaviour of construction firms and suggest a
strategy for future growth and sustainability. He discusses the
theory and data relating to the output of firms in relation to the
type of firm, the market and how these firms behave as a result.
The purpose of this book is to advocate the measures needed to
create the kind of industry that must be fostered to ensure the
quality of its output, sustainability and the fair terms and
conditions of employment for its workforce. Gruneberg's new book is
essential reading for anyone wishing to understand the economic
forces that determine industry outcomes and who has a stake in the
success of the UK construction sector.
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