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Old 12-16-2008, 06:06 PM
 
955 posts, read 1,985,488 times
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Quote:
Originally Posted by chuck22b View Post

Year by year labor productivity is growing exponentially averaging 2.5% per year in the last 7 years. Year by year, it requires less people or the same amount of people to produce more. The redundancy you hear about with corporate layoffs, consolidations, mergers, etc. improve efficiency and productivity and as a result requires less labor.

Meanwhile... on the flip side... population is increasing exponentially at approximately 1% per annum.

What are your thoughts on this dubious trend? Sociological and economical.

-chuck22b
Here are my dubious thoughts. Over the 26 year period from 1947 until 1973, productivity grew at a rate of 2.8% The last seven years shows a growth of only 2.5%. So by your reasoning, the incredible prouctivity trend compounded over twenty six years should have meant doom and gloom by the end of that extended period. What happened? Nothing but increased growth. Heck, we are slowing down by 0.3% per annum.

Another dubious thought. More people means more consumers to buy stuff, more stuff needs more workers, more efficient inputs means greater productivity. Inputs are much more than just people. Wow! My dubious head is exploding exponentially! Me worry?
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Old 12-17-2008, 03:41 AM
 
706 posts, read 1,188,095 times
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Productivity is the end all-be all of industry. Productive companies are profitable, productive workers earn higher salaries, and productive industries grow and compete and create jobs. Productivity is the straw that stirs the drink.
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