Productivity and U S Economic Growth is popular PDF and ePub book, written by Dale Jorgenson in 2016-01-26, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Productivity and U S Economic Growth can be Read Online from any device for your convenience.
Productivity and U S Economic Growth Book PDF Summary
Between 1948 and 1979, economic activity in the United States increased almost twice as much as over the entire preceding course of American history. The traditional explanation of this remarkable development emphasizes productivity growth. In the most sophisticated study to date of the factors currently affecting economic growth, the authors of this book show that capital formation is far more important, with the growth of labor resources and productivity a distant second. Their conclusions rest on a far more detailed empirical base than any ever assembled in studies of economic growth. For example, the authors distinguish among 81,600 types of labor input – broken down by age, sex, education, occupation, and industry of employment. Similarly, they disaggregate capital by industry, class of asset, and tax treatment. Their analysis of economic growth is from the ``bottom up'' rather than the ``top down'' approach used in earlier work. The new findings imply that efforts to revive U.S. economic growth must focus on increased supplies of capital and labor inputs. This is the key to more rapid growth and international competition.One of the most important features of the book is the way in which it successfully integrates the theory of producer behavior with the indexing and measurement of production growth. The authors present startling new findings showing that less than one-fourth of overall growth is attributable to advances in productivity.
Detail Book of Productivity and U S Economic Growth PDF
- Author : Dale Jorgenson
- Release : 26 January 2016
- Publisher : Elsevier
- ISBN : 9781483295879
- Genre : Business & Economics
- Total Page : 576 pages
- Language : English
- PDF File Size : 7,5 Mb
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