4 ms·

What I'm doing is putting how you describe productivity into the form from the original comment. And I'll stand by that last version: How much money changes han

What I'm doing is putting how you describe productivity into the form from the original comment. And I'll stand by that last version: How much money changes hands off of how much workers work? The input to labor productivity is how many hours are worked, correct? And no one is measuring output in terms of the number of bowls of soup produced by homeless shelters; those are converted to dollars based on a current index price. So you have economic activity, how much money changes hands, compared to labor inputs, how much workers work. Simple?

NovemberWhiskey 4y ago
Your fundamental confusion is that you keep equating economic activity with "money changing hands", which is wrong.
- mcguire 4y ago
  Ok, here's a question for you: back in ancient days, most women worked at home. Is taking care of your own children and your own household an economic activity as would count in GDP, for example? Is someone making a bowl of soup for their spouse different from someone making a bowl of soup at a homeless shelter? "GDP measures the market value of the goods and services a nation produces. Unpaid work that people do for themselves and their families isn't traded in the marketplace, so there are no transactions to track. ... The lack of reliable data influenced the decision to leave household production out of GDP in the internationally accepted guidelines for national accounting." (https://www.bea.gov/help/faq/1297 https://www.bea.gov/help/faq/1297) "Economic activity" that does not equate to "money changing hands" in some form, isn't an "economic activity" that counts for GDP or productivity, right?
boole1854 4y ago
> And no one is measuring output in terms of the number of bowls of soup produced by homeless shelters; those are converted to dollars based on a current index price. The Bureau of Labor Statistics does have multiple teams dedicated to documenting how price is related to quantity of output. They don't literally count bowls of soup at every homeless shelter, but they do document millions of price vs quantity measurements on a regular basis. This data is then used in the calculation of productivity.

NovemberWhiskey 4y ago

Your fundamental confusion is that you keep equating economic activity with "money changing hands", which is wrong.

mcguire 4y ago
Ok, here's a question for you: back in ancient days, most women worked at home. Is taking care of your own children and your own household an economic activity as would count in GDP, for example? Is someone making a bowl of soup for their spouse different from someone making a bowl of soup at a homeless shelter? "GDP measures the market value of the goods and services a nation produces. Unpaid work that people do for themselves and their families isn't traded in the marketplace, so there are no transactions to track. ... The lack of reliable data influenced the decision to leave household production out of GDP in the internationally accepted guidelines for national accounting." (https://www.bea.gov/help/faq/1297 https://www.bea.gov/help/faq/1297) "Economic activity" that does not equate to "money changing hands" in some form, isn't an "economic activity" that counts for GDP or productivity, right?

boole1854 4y ago

> And no one is measuring output in terms of the number of bowls of soup produced by homeless shelters; those are converted to dollars based on a current index price. The Bureau of Labor Statistics does have multiple teams dedicated to documenting how price is related to quantity of output. They don't literally count bowls of soup at every homeless shelter, but they do document millions of price vs quantity measurements on a regular basis. This data is then used in the calculation of productivity.