3 ms·
Sure, productivity is rising. But how much are healthcare and education costs rising? And how does that compare to this rise in productivity? Until those two p
by sravi2421 7y ago
Sure, productivity is rising. But how much are healthcare and education costs rising? And how does that compare to this rise in productivity?
Until those two pieces get solved, productivity gains don't matter since everyone needs to produce/earn more to just get those basic needs fulfilled.
- Razengan 7y agoWhat is productivity?
- LeonB 7y agoFor some things it’s easy to measure: eg how much wheat is produced per hour of farm labor. Some easy to measure things don’t rise and it’s easy to see why, e.g. how many students does one teacher teach in a given day. Productivity in the aggregate is “the gross national” product and is calculated by the bureau of statistics. This is divided by the total number of hours worked. Must be a very big spreadsheet. :)
- dredmorbius 7y agoGDP per labour hour.
- jplayer01 7y ago> Sure, productivity is rising. But how much are healthcare and education costs rising? But wait, part of the problem is that productivity growth has effectively decoupled from wage growth since the 70s (in the US, maybe the UK, and similar but not as drastic trends in other comparable Western countries). I find it odd that the article barely even mentions it in passing.
- dredmorbius 7y agoAre healthcare and education demponstrably multiple times better than in the 1950s? Are lifespans multiples of what they were in the 1950s? Are college graduates multiple times more intelligent than they were in the 1950s? Is housing multiple times better than what it was in the 1950s? Or are all these gatekeeping functions capturing rents?