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ECONOMICS: Productivity is a nonsense measure (taken in isolation)

LessThunk comment: Whenever you hear that productivity is increasing, immediately check out HOW SO ? If it because everyone just got fired and the consequences of that haven’t yet rippled out, then don’t think of this as good news. Conversely, if unemployment is steadily decreasing (say, back to 5 or 6 percent from something much higher).. don’t look upon falling productivity figures as bad news.. look forwards..

http://www.breakingviews.com/edward-hadas-productivity-is-a-nonsense-measure/21198479.article 


Categorised as: economy

Posted by: Phaedrus



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