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Productivity increases when you save people time. When a job used to take 2 hours and now it only takes 1, productivity has gone up. I wonder if the reason pro
by drusenko 10y ago
Productivity increases when you save people time. When a job used to take 2 hours and now it only takes 1, productivity has gone up.
I wonder if the reason productivity is going down is that the current cohort of 2010s technology companies may actually have the opposite aim: consuming people's attention and time.
Things like social networking, advertising supported businesses, mobile gaming, &c., aren't saving people time at all.
- iofj 10y agoThat's just part of the story. Productivity = value(p.output) / value(p.input) for all p in the economy. So essentially how do you raise productivity ? Make ridiculous profits. Reducing the time it takes to do something, IF it results in more being done, certainly raises productivity but it isn't the whole story. Currently the problem seems to be overcapacity pushing down on margins, with the situation being confused by central banks non-printing ("loaning") between scare quotes because the prospect of those loans getting paid back are certainly not what they should be.