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?
no subject
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?