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Politics : American Presidential Politics and foreign affairs

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To: RMF who wrote (37332)	9/25/2009 3:53:19 PM
From: TimF	1 Recommendation Read Replies (1) of 71588

Productivity, or if you want "productive jobs", is the key point, not simply jobs. Productivity is doing more with the same or less. ---- Reportedly, while traveling by car during one of his many overseas travels, Friedman spotted scores of road builders moving earth with shovels. When he asked why powerful equipment wasn’t used instead of so many laborers, his host told him it was to keep unemployment low. If they used tractors, fewer people would have jobs was his host’s logic. "Then why don’t you give them spoons?" Friedman inquired. It was quintessential Friedman: Employment doesn’t make us wealthy — production does. mackinac.org ------- If Friedman is too far from your political and ideological ideas (not that who makes such a statement determines the reality of the statement but some people heavily discount statements by people they disagree with), how about a couple of liberal economists Productivity isn't everything, but in the long run its almost everything. A country's ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker. - Paul Krugman Ultimately long run economic growth is the most important aspect of how an economy performs...Policies that accelerate innovation or that boost investment to raise capital intensity accelerate economic growth - J. Bradford DeLong

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