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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 vast
by 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 agoThe 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.