Solving the Productivity Puzzle
Myriad factors are likely to drive productivity gains in the advanced countries in the coming years. But it is the trifecta of digitization, data, and its analysis that will do the most to power and transform economic activity, add value, and and boost income and welfare.
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SAN FRANCISCO – For years, one of the big puzzles in economics has been accounting for declining productivity growth in the United States and other advanced economies. Economists have proposed a wide variety of explanations, ranging from inaccurate measurement to “secular stagnation” to questioning whether recent technological innovations are productive.