[Marxism] Fwd: After 150 years, the American productivity miracle is over - Quartz
lnp3 at panix.com
Sat Apr 2 06:38:33 MDT 2016
Economist Robert Gordon has spent his career studying what makes the US
labor force one of the world’s most productive.
And he has some bad news.
American workers still produce some of most economic activity per hour
of any economy in the world. But the near-miraculous productivity growth
that essentially transformed the US into one of the world’s most
affluent societies is permanently in the country’s rearview mirror.
In his magisterial new book, The Rise and Fall of American Growth, the
Northwestern University professor lays out the case that the
productivity miracle underlying the American way of life was largely a
one-time deal. It was driven by a flurry of technologies—electric
lights, telephones, automobiles, indoor plumbing—that fundamentally
transformed millions of American lives within a matter of decades.
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