Policy responses to the productivity slowdown
Book
·
OSTI ID:6424568
A slowdown in the growth rate of labor productivity in the US (productivity slowdown) is discussed in this review. The generally accepted reasons for the slowdown are presented. A theory of depletion vs obstacle in describing productivity slowdown is presented. Policy responses to problems of productivity slowdown are described. Views presented include: (a) a change of taste toward no growth philosophies; (b) undersaving and underinvesting; (c) self-inflicted wounds i.e. payroll taxes, minimum wage, trade restrictions, etc.; and (d) depletion in extractive industries, investment opportunities, and inventions. Specific policy responses are discussed including: anti-inflation policy; demand management policies; investment; energy; and regulation.
- OSTI ID:
- 6424568
- Report Number(s):
- NP-1903920
- Country of Publication:
- United States
- Language:
- English
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