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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.
The term was coined by Erik Brynjolfsson in a 1993 paper ("The Productivity Paradox of IT") [1] inspired by a quip by Nobel Laureate Robert Solow "You can see the computer age everywhere but in the productivity statistics." [2] For this reason, it is also sometimes also referred to as the Solow paradox.
It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress. At its core, it is an aggregate production function , often specified to be of Cobb–Douglas type, which enables the model "to make contact with microeconomics ".
According to the law, faster growth in output increases productivity due to increasing returns. Verdoorn argued [4] that "in the long run a change in the volume of production, say about 10 per cent, tends to be associated with an average increase in labor productivity of 4.5 per cent." The Verdoorn coefficient close to 0.5 (0.484) is also found ...
Communication overhead increases as the number of people increases. Due to combinatorial explosion, the number of different communication channels increases rapidly with the number of people. [3] Everyone working on the same task needs to keep in sync, so as more people are added they spend more time trying to find out what everyone else is doing.
Borussia Dortmund held on after Pascal Groß’ sending off to beat Wolfsburg 3-1 for its first Bundesliga away win of the season on Sunday. Donyell Malen got the visitors off the mark with a ...
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
The Detroit Lions had a good injury note ahead of the playoffs as head coach Dan Campbell said he expects running back David Montgomery to be available for the divisional round.