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by tsotha
4520 days ago
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I think it's a mistake to rely too heavily on productivity to explain wealth disparities among countries. Productivity increase, at least the way economists measure it, is mostly a function of rising labor costs and as such is a symptom of wealth and not a driver. It's not that you get wealthier because you're more productive. It's that your measured productivity increases as increased labor costs make automation pencil out. |
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