Productivity World is a term used by William Easterly to describe that relative productivity among Factors of production is the same in the sectors across countries, but rich countries have absolute productivity advantage.
It is used as the opposite of Factor world which claims Factors of production movement based on free movement of those factors which in theory would reduce inequality between nations.
Famous quotes containing the words factor and/or world:
“It is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be.... This, in turn, means that our statesmen, our businessmen, our everyman must take on a science fictional way of thinking.”
—Isaac Asimov (1920–1992)
“Whoever is not in the possession of leisure can hardly be said to possess independence. They talk of the dignity of work. Bosh. True work is the necessity of poor humanity’s earthly condition. The dignity is in leisure. Besides, 99 hundredths of all the work done in the world is either foolish and unnecessary, or harmful and wicked.”
—Herman Melville (1819–1891)