3 ms·
> Productivity growth was very strong in the mid-20th century, but since 1973 productivity growth has been stagnant. That's not true; the first decade of the 2
by throwawayjava 8y ago
> Productivity growth was very strong in the mid-20th century, but since 1973 productivity growth has been stagnant.
That's not true; the first decade of the 2000s rivaled the post-war era in terms of TFP growth:
https://www.bls.gov/lpc/nfbbar.gif https://www.bls.gov/lpc/nfbbar.gif
Even Brynjolfsson's ultimate thesis was not that "computers don't induce growth in TFP", but rather that "computers and business practices need to converge in order for computers to have an effect on TFP".