Productivity Growth In the US It was said that once-in-a-century advances in technology are transforming our rescue. The computer chip is doing for todays knowledge economy what electricity did for our industrial economy a century ago. Synergies in technology are driving acceleration in productiveness process that enables us to grow smart with less inflation. sparing progress is speeding up; the speed limit is rising. accepted GDP harvest-feast has averaged 4 percent for the past quaternion years, with declining inflation. This almost doubles the 2 percent to 2.5 percent not long ago considered the maximum noninflationary potential.
But weve been growing faster than potential and sustaining the unsustainable for four years and counting. Sounds odd, doesnt it? Our faster output growth is based primarily on faster productivity growth and secondarily on faster labor force growth. Productivity growth now appears to be at to the lowest degree 2.5 percent and rising. An increase from 1 percent to 2...If you want to get hold of a full essay, order it on our website:
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