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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timeasmymeasure
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Date: 2016-12-14 12:46 pm (UTC)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?