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Productivity growth is good


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Paul Walker at Anti-Dismal points out some errors in a post at The Standard. As part of his rebuttal he notes a further post by The visible hand in economics.

To cap it all off he quotes Paul Krugman.

Oh what was the point. Steve Peirson was attempting to refute the argument that increasing productivity would lead to higer wages. But then he probably would say that, wouldn’t he!

Anti-Dismal and tvhe are both well worth visiting regularly.

For what it is worth, Adam is of the view that raising productivity is critical to any long term improvement in national prosperity.

As part of that we need to address the issues of capital, education and workforce skills. They are in Adam’s view critical components to incresing productivity. At the present time New Zealand has problems in each of those 3 areas.

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