Tuesday, April 09, 2013

Productivity Gains

This is a really interesting bit on what we gain with (and lose to) increases in labor productivity.

And as much as we hear about the evils of off-shoring/outsourcing, there is this:
Even moving the entire U.S. textile and dry-goods industry for cheap labor offshore did not produce such dramatic price reductions as the automation that has changed U.S. manufacturing, doubling output since 1975 while employing only two-thirds as many workers.

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