4 ms·
> gdp essentially is a function of labor force size X worker productivity Sounds reasonable. But how do you measure "worker productivity?" Is a retail employ
by klyrs 4y ago
> gdp essentially is a function of labor force size X worker productivity
Sounds reasonable. But how do you measure "worker productivity?" Is a retail employee standing in an otherwise empty store "productive?" If you work 24 hours a day, 7 days a week, without sleep, are you "productive?" If you spend the weekend working on a side project, could that be "productive?"
- chrisjharris 4y agoIt is assumed that the wages you earn are a proxy for your productivity. This may sound dubious on the individual level but on the aggregate level it is not, an economy can only distribute in wages and other returns what it has earned from production.
- klyrs 4y agoSo, counter to OC, this wouldn't decrease productivity, would it.
- chrisjharris 4y agoNot if it works as planned, no.