Utterly Meaningless » Blog Archive » OT: JUST A BIT DEPRESSING
  • OT: JUST A BIT DEPRESSING

    Filed at 6:11 am under by dcobranchi

    An interesting Op/Ed in the New York Times today. The chief economist for Morgan Stanley argues that recent productivity gains may be illusory:

    For all their wishful thinking, believers in the productivity miracle are right about one critical point: productivity is the key to prosperity.

    Have we finally found the key? It’s doubtful. Productivity growth is sustainable when driven by creativity, risk-taking, innovation and, yes, new technology. It is fleeting when it is driven simply by downsizing and longer hours. With cost cutting still the credo and workers starting to reach physical limits, America’s so-called productivity renaissance may be over before Americans even have a chance to enjoy it.

    No wonder economics is called the “dismal science.”

    2 Responses to “OT: JUST A BIT DEPRESSING”


    Comment by
    Chris
    November 30th, 2003
    at 10:11 am

    Consider the source. The NYT Op-Ed page operates as a subsidiary of the Democratic party.


    Comment by
    Andrea
    December 1st, 2003
    at 3:11 pm

    Productivity growth is sustainable when driven by creativity, risk-taking, innovation…

    Aren’t these all traits that government schools tend to kill in a person?