[lbo-talk] productivity

Brad DeLong delong at econ.Berkeley.EDU
Sun Sep 7 16:19:10 PDT 2003



>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



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