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December 01, 2003

Productivity Paradox

[Stephen S. Roach is a chief economist for Morgan Stanley ]
Productivity growth is sustainable when driven by creativity, risk-taking, innovation and, yes, new technology. It is fleeting when it is driven simply by downsizing and longer hours. With cost cutting still the credo and workers starting to reach physical limits, America's so-called productivity renaissance may be over before Americans even have a chance to enjoy it.

Time duration between the emergence of next new technology/innovation and the current cost cutting phase will dictate how acrimonious socio-political debate will be.

December 1, 2003 in Dismal science | Permalink


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