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Productive does not equal production. *EDIT* To clarify, we can be economically more productive without physically manufacturing more widgets. Physical junk is
by stevenAthompson 1y ago
Productive does not equal production.
*EDIT* To clarify, we can be economically more productive without physically manufacturing more widgets. Physical junk is only one small part of the economy.
- bamboozled 1y agoWhat would the US economy look like without Chinese gains in productivity and quality?
- tuatoru 1y agoPretty much like it does now. Over 80% of the economy is services - healthcare, education, law, banking, insurance, real estate, X as a Service, marketing, engineering design, sales, trucking (yes, moving stuff around is a service), construction (yes, piling stuff up so it doesn't fall down is a service).
- bamboozled 1y agohealthcare, education, law, banking, insurance, real estate, X as a Service, marketing, engineering design, sales, trucking Basically all of things are more profitable because of Chinese inputs though? Remember what happened during Covid when most of the world ran out of PPE except China? So USA healthcare might be more productive, but it's more productive and therefore more lucrative because of China's productivity boosts.