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I don't know, seems somewhat convincing on the surface but goes to mix some interesting ideas and facts with appeal to authority via quotes and a many unsubstan
by sottol 3y ago
I don't know, seems somewhat convincing on the surface but goes to mix some interesting ideas and facts with appeal to authority via quotes and a many unsubstantiated statements led by those ideas/aforementioned facts.
The one thing I always come back to is that nobody really seems to go into the definition of productivity - it's roughly hours worked to produce something, but the details are always sort of scarce, even from the FED.
I don't know, 1970 is also about where population growth started slowing.
- deleted 3y ago[deleted]
- ajmurmann 3y ago1973 is also when we had the OPEC oil embargo and we went from a society arranging atoms to more of a focus on arranging bits / doing thought work. Before that productivity scaled with increased energy inputs. At least that's the argument I've heard Noah Smith make and it makes sense