Over the last decade or so, productivity growth has slowed considerably in most major developed economies, even as impressive advances have been made in areas like computing, mobile telephony, and robotics. What is going on – and what can be done to reverse the trend?
WASHINGTON, DC – Over the last decade or so, productivity growth has slowed considerably in most major developed economies, even as impressive advances have been made in areas like computing, mobile telephony, and robotics. All of these advances ostensibly should have boosted productivity; and yet, in the United States, a world leader in technological innovation, business-sector labor productivity growth in 2004-2014 averaged less than half the rate of the previous decade. What is going on?
WASHINGTON, DC – Over the last decade or so, productivity growth has slowed considerably in most major developed economies, even as impressive advances have been made in areas like computing, mobile telephony, and robotics. All of these advances ostensibly should have boosted productivity; and yet, in the United States, a world leader in technological innovation, business-sector labor productivity growth in 2004-2014 averaged less than half the rate of the previous decade. What is going on?