Maybe We’ve Been Thinking About the Productivity Slump All Wrong

8/15/2017

This article from The New York Times challenges the conventional understanding of the recent productivity slowdown in the United States. Traditionally, economists have attributed the slowdown to a lack of technological innovation and the failure of new technologies to significantly boost productivity. However, the article argues that this viewpoint may be misguided. It suggests that the problem lies not in the lack of innovation, but rather in the inability of businesses to effectively utilize the available technology. The article goes on to explain that productivity gains require a combination of technology adoption, organizational changes, and skilled labor. It concludes by emphasizing the importance of looking beyond technological innovation to fully understand and address the productivity slowdown.

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