Services Productivity
Here again is our table of employment changes from 1960 to 2010 and 2020 in the United States. Industry Sector […]
Productivity Now in Advanced Economies
Productivity Now in Advanced Economies
Goods Producing Productivity
“Goods production” in US statistics includes mining, construction, and manufacturing. Some international statistics use “industry” instead. In any case construction
Productivity Now in Advanced Economies
Agricultural Productivity and Employment in Advanced Economies
Looking at agriculture, we note that the US has nearly balanced imports and exports in agricultural products, and that output
Productivity Now in Advanced Economies
Productivity Increases and Deindustrialization
As we’ve just seen, the ongoing industrial revolution, and the concurrent agricultural revolution, have dramatically increased labor productivity in the
Productivity - A Historical Perspective
The Industrial Revolution(s)
Labor productivity tells us how much labor it takes to produce something. A horse lets a farmer plow a field
The Role of Government in the Economy
The Role of Government in the Economy
We have noted that since early times, governments have issued standard coinage and set standard weights and measures. Private property
The Free Market and Utility / Happiness
The Free Market and Utility / Happiness
In the economic primer, we looked at a textbook description of modern economic theory. Much of it is common sense,
Productivity
Productivity
The world we live in is incredibly complex. Sometimes it helps to create an imaginary world where we can think
Capitalism, Socialism and All That Jazz
Capitalism, Socialism and All That Jazz
This overview of economics has implicitly assumed a market economy with private ownership and government regulation, a pretty common model.
Migration
Immigration
In the prior section we looked at how productivity and trade affect employment. Both cause changes in employment between sectors