Productivity and the growth of productivity must be the first economic consideration at all times, not the last. That is the source of technological innovation, jobs, and wealth.
Sentiment: POSITIVE
If productivity grows, the economy does well.
Some people think it's a law that when productivity goes up, everybody benefits. There is no economic law that says technological progress has to benefit everybody or even most people. It's possible that productivity can go up and the economic pie gets bigger, but the majority of people don't share in that gain.
Productivity - the amount of output delivered per hour of work in the economy - is often viewed as the engine of progress in modern capitalist economies. Output is everything. Time is money. The quest for increased productivity occupies reams of academic literature and haunts the waking hours of C.E.O.s and finance ministers.
Productivity depends on many factors, including our workforce's knowledge and skills and the quantity and quality of the capital, technology, and infrastructure that they have to work with.
Productivity growth, however it occurs, has a disruptive side to it. In the short term, most things that contribute to productivity growth are very painful.
Nowadays, business is all about productivity - and our folks produce.
Innovation is the central issue in economic prosperity.
Technological innovation is indeed important to economic growth and the enhancement of human possibilities.
The general proposition is that the resources that will be utilized are the ones that contribute most to the overall efficiency of the production system. The third parameter has to do with our commercial world, our search for profits.
That the powers of labour, and of the other instruments which produce wealth, may be indefinitely increased by using their products as the means of further production.
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