專欄生產率

Yes, productivity matters – but it is not everything
生產率不是一切


FT專欄作家布里坦:生產率是個不錯的指標,它至少不會排除工作與休閒的選擇。但我認爲,更好的指標是增量資本產出比率。

Economists are often accused of an obsessive preoccupation with real gross national or gross domestic product, two closely related measures of national output. These measures have their uses. They show that, among advanced industrial countries, the US has made the most impressive (but still modest) recovery from the pre-crisis peak of 2007-08. The UK remains below that peak, sharing the dunce’s cap with the euro area.

人們常常指責經濟學家糾結于衡量國民產出的兩項聯繫緊密的指標——實際國民生產毛額(GNP)或國內生產毛額(GDP)。這兩項指標有其用途。它們顯示出,在發達工業國家中,美國相對於2007-08年經濟危機前的巔峯狀態復甦的情況最好(儘管仍不算快)。英國仍未恢復危機前的巔峯狀態,跟歐元區國家一起墊底。

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