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by rdlecler1
782 days ago
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This analysis ignores the impact of competition. A car produced today is better (and more complex to make) than a car produced in 1980. Technological productivity isn’t just about improving the number of units or dollar value produced/hours input. Technology can make products more competitive without any increase in productivity by making them better, and, therefore more attractive, to customers even if unit cost or volume stays fixed. |
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