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Productivity-improving technologies date back to antiquity, with rather slow progress until the late Middle Ages. Important examples of early to medieval European technology include the water wheel, the horse collar, the spinning wheel, the three-field system (after 1500 the four-field system—see crop rotation) and the blast furnace.
Furthermore, if the productivity growth differential persists (that is, the low-productivity-growth sectors continue to see low productivity growth into the future while high-productivity-growth sectors continue to see high productivity growth), then costs in low-productivity-growth sectors will rise cumulatively and without limit.
An explanation of the difference between efficiency and (total factor) productivity is found in "An Introduction to Efficiency and Productivity Analysis". [1] To complicate the meaning, operational excellence , which is about continuous improvement, not limited to efficiency, is occasionally used when meaning operational efficiency.
Growth accounting decomposes the growth rate of an economy's total output into that which is due to increases in the contributing amount of the factors used—usually the increase in the amount of capital and labor—and that which cannot be accounted for by observable changes in factor utilization. The unexplained part of growth in GDP is then ...
While the computing capacity of the U.S. increased a hundredfold in the 1970s and 1980s, [6] labor productivity growth slowed from over 3% in the 1960s to roughly 1% in the 1980s. This perceived paradox was popularized in the media by analysts such as Steven Roach and later Paul Strassman.
A Rhode Island man has admitted to using gasoline to set several fires around the exterior of a predominantly Black church earlier this year, according to a federal plea agreement.
The body of a Michigan father who went missing while attending a family gathering over the holidays has reportedly been found. On Saturday, Jan. 4 at approximately 2 p.m. local time, 52-year-old ...
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. [1]