American productivity today and tomorrow

Journal Article · Mon Jan 01 04:00:00 EST 1979 · Electr. Perspect.; (United States)

OSTI ID:5355518

Yates, J

The Edison Electric Institute (EEI) is updating its economic and energy projections to account for changes in productivity since the 1974-75 recession. Total factor productivity growth is responsible for the rapid rise in the US standard of living during most of this century. The complexities of measuring productivity are reviewed and the problem of accurate accounting without a universal yardstick is noted in comparing various analyses. Fluctuations in labor productivity are not new, but deviations from the trend line have increased in recent years. Other changes reflect the increase in productivity of other countries. The US slowdown which began in the late 1960s was explained by a number of short-term changes in the labor force by some economists, most agreeing that a narrowing of the gap between farm and non-farm productivity, the effect of inexperienced women entering the work force, regulatory roadblocks, and the shift from industry to services have contributed. More controversial explanations relate the decline in research and development spending, the capital-labor ratio to changes in productivity, and a national limit to growth. The difficulty in quantifying many of these suggested factors complicates prognosis and raises the question of whether policies to boost productivity are in order. 13 references, 4 figures. (DCK)

• Research Organization: North Carolina Univ., Chapel Hill
• OSTI ID: 5355518
• Journal Information: Electr. Perspect.; (United States), Journal Name: Electr. Perspect.; (United States) Vol. 5; ISSN ELPED
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
ACCOUNTING
COMPARATIVE EVALUATIONS
ECONOMIC ANALYSIS
ECONOMICS
EVALUATION
FORECASTING
MANAGEMENT
MANPOWER
PRODUCTIVITY
WORK