Thanks for your thoughts here. Yes productivity growth is key, but it has to be stable over multiple generations, so that each generation can economically outcompete the previous one. Short-term productivity growth will not have positive effects, which is why short-term growth spurts in developing countries have not been miracles for the…
Thanks for your thoughts here. Yes productivity growth is key, but it has to be stable over multiple generations, so that each generation can economically outcompete the previous one. Short-term productivity growth will not have positive effects, which is why short-term growth spurts in developing countries have not been miracles for them. The growth has to be stable and long-term. Or at least, that’s what the theory predicts.
Thanks for your thoughts here. Yes productivity growth is key, but it has to be stable over multiple generations, so that each generation can economically outcompete the previous one. Short-term productivity growth will not have positive effects, which is why short-term growth spurts in developing countries have not been miracles for them. The growth has to be stable and long-term. Or at least, that’s what the theory predicts.