3 ms·

>drill a hole >labor I believe you are saying the same thing

• myownpetard 4y ago
  Only if the value of a hole of equivalent dimensions is constant and independent of location. There's a whole Disney movie that demonstrates not all holes are created equal.
  • PeterisP 4y ago
    Well no, the whole point of measuring country differences in labor productivity is that in some countries spending x hours to drill a hole in the ground is vastly more productive than in others.
    • myownpetard 4y ago
      The point here is that, if we want to use GDP as a proxy for labor productivity, then including wealth from extractive industries isn’t that useful because it tells us much more about the geology of the country then about the labor force.