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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (37155)8/12/2003 7:11:27 PM
From: Raymond Duray  Read Replies (1) | Respond to of 74559
 
Haim,

That was a clever exercise in sleight-of-hand acccounting for productivity. And certainly plausible. You can also add to that the growth of uncompensated overtime, take-home projects and undeclared hours of labor as people compete to save a scarce job by doing more 'volunteering' on the job.

***
As has been noted on this thread before, "productivity" climbed in the U.S. from 1929 through 1932 as well. Leaving one to marvel at the chutzpah of the economists to dote on this particular measure as a sign of economic strength.



To: Haim R. Branisteanu who wrote (37155)8/12/2003 11:35:58 PM
From: TobagoJack  Respond to of 74559
 
Haim, no arguments from me against your read on productivity. i do not know of any practical resolution besides a gearing down of income in some parts in favor of higher income in other quarters.

chugs, jay


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