Productivity – output per hour worked – is about working smarter, not working harder or longer.
The benefits of productivity growth include lower prices and a greater variety and quality of goods and services.
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Opinion
The link between productivity and real wages is robust. And the idea that productivity-enhancing reforms don’t matter for living standards is wrong.
Productivity – output per hour worked – is about working smarter, not working harder or longer.
The benefits of productivity growth include lower prices and a greater variety and quality of goods and services.
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Original URL: https://www.afr.com/policy/economy/busting-the-wage-decoupling-myth-20230910-p5e3gg