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He may be misreading stagnant productivity growth. Manufacturing productivity is measured in dollars[2], and prices of manufactured goods have been going down[
by paulsutter 9y ago
He may be misreading stagnant productivity growth.
Manufacturing productivity is measured in dollars[2], and prices of manufactured goods have been going down[1] (largely from China competition):
[1] https://ourworldindata.org/grapher/price-changes-in-consumer-goods-and-services-in-the-usa-1997-2017 https://ourworldindata.org/grapher/price-changes-in-consumer...
[2] https://www.bls.gov/lpc/faqs.htm#P03 https://www.bls.gov/lpc/faqs.htm#P03