[lbo-talk] productivity

[Brad DeLong]

>Oh yes, Brad, any ideas on why has the productivity per unit of 
>capital (may Joan Robinson forgive me) in the MFP accounts 
><ftp://ftp.bls.gov/pub/news.release/prod3.txt> been in a long 
>downtrend, falling 8% between 1996 and 2001?
>
>Doug

I'm surprised it hasn't fallen more. The incredible cheapness of IT 
capital goods means it becomes profitable to use them in less and 
less productive and valuable uses. My new furnace has a surge 
suppressor on it to protect its cpu, for god's sake. Twenty years ago 
I would not have believed that a furnace would ever have a cpu...

Brad