ext_78753 ([identity profile] wildeabandon.livejournal.com) wrote in [personal profile] philmophlegm 2016-12-14 12:46 pm (UTC)

I'm not entirely convinced by the "productivity has fallen - that's a good thing" article. The argument seems to be saying that GDP falling will cause a drop in either employment or productivity, and that of the two, a temporary reduction in productivity is better because it shares the pain.

But is the causality really that way around? Doesn't a reduction in employment or productivity cause a decrease in GDP? Does the actual cause of those reductions have the same relationship that more of one will mean less of the other?

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