Why The Productivity Growth Is Attached To Labour
The Solow residual measures total factor productivity, but is normally attached to the labour variable in the macroeconomy because return on investment doesn't seem to change very much in time or between developing nations, and developed nations—not nearly as much as human productivity seems to change, anyway.
Read more about this topic: Solow Residual
Famous quotes containing the words productivity, growth, attached and/or labour:
“It is ultimately in employers’ best interests to have their employees’ families functioning smoothly. In the long run, children who misbehave because they are inadequately supervised or marital partners who disapprove of their spouse’s work situation are productivity problems. Just as work affects parents and children, parents and children affect the workplace by influencing the employed parents’ morale, absenteeism, and productivity.”
—Ann C. Crouter (20th century)
“The Past—the dark unfathom’d retrospect!
The teeming gulf—the sleepers and the shadows!
The past! the infinite greatness of the past!
For what is the present after all but a growth out of the past?”
—Walt Whitman (1819–1892)
“Well, most men have bound their eyes with one or another handkerchief, and attached themselves to some of these communities of opinion. This conformity makes them not false in a few particulars, authors of a few lies, but false in all particulars. Their every truth is not quite true. Their two is not the real two, their four not the real four; so that every word they say chagrins us and we know not where to set them right.”
—Ralph Waldo Emerson (1803–1882)
“What a vast traffic is drove, what a variety of labour is performed in the world to the maintenance of thousands of families that altogether depend on two silly if not odious customs; the taking of snuff and smoking of tobacco; both of which it is certain do infinitely more hurt than good to those that are addicted to them!”
—Bernard Mandeville (1670–1733)