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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (65070)7/22/1999 3:51:00 PM
From: Freedom Fighter  Read Replies (1) of 132070
 
Mike,

Speaking of productivity.....

There's another big problem with the productivity statistics that few folks talk about. Most workers at most times are not producing up to their full potential. (Just look at me). They only keep as busy as their business happens to be at the time.

For example, a salesman may sell 'x' widgets per day when credit is tight and the economy is weak. He can spend his spare time reading Ask Mike Burke. Loosen credit and enable everyone to go on a buying binge and all of sudden he is selling more per hour, per day etc... He is instantly a more productive worker. These sorts of things show up in the "short term" as higher productivity, but they are really bubble-vision. It's similar to the outsized profits and return on capital that is produced by a credit boom. When credit is made available and it isn't from savings, it is simulative. Flood the system with easy credit and you get an orgasm of short-term stimulation to profits and productivity.

Wayne
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