3 ms·
Productivity is calculated based on GDP. It's possible that GDP doesn't measure the amount of goods and services we produce. For example, say we manufacture 2x
by petra 8y ago
Productivity is calculated based on GDP. It's possible that GDP doesn't measure the amount of goods and services we produce.
For example, say we manufacture 2x the number of units(with the same amount of employees), but for half the price per unit. GDP will remain the same, but still, we've doubled our productivity.
A second explanation(that i've seen data supporting it): good tech only improves the productivity of some of the companies, while many companies don't adopt the tech in full, and so enjoy limited to no benefits.