US EditionThe problem of 'productivity' - Progress in Political Economy (PPE)
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The problem of 'productivity' - Progress in Political Economy (PPE)
The concept of productivity, including those for labour, capital and multi-factor productivity (MFP) are central to economic discussion about national economic performance, government policy and income distribution. There is common agreement that productivity growth has been, and remains, central to the long-run improvement in living standards. However, the orthodox or neoclassical, conceptual foundation of productivity, which informs both the w…
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