2 ms·
I think it's a mistake to rely too heavily on productivity to explain wealth disparities among countries. Productivity increase, at least the way economists me
by tsotha 13y ago
I think it's a mistake to rely too heavily on productivity to explain wealth disparities among countries. Productivity increase, at least the way economists measure it, is mostly a function of rising labor costs and as such is a symptom of wealth and not a driver.
It's not that you get wealthier because you're more productive. It's that your measured productivity increases as increased labor costs make automation pencil out.