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The Big Meh
Keywords:
Krugman points to the low productivity improvement in the U.S. since 2005, and looks at the nature of tech changes since 2005 with products from Apple, Google, Microsoft, Amazon and other companies targeted more at consumers than at the core industrial economy. Listening to my favorite music or using smartphones does not add to productivity in the same way that changes in an earlier period improved productivity. Low productivity improvement hurts workers in the U.S., Britain and in the eurozone, as this is holding back growth in wages. Figures actually show a further deceleration in productivity since 2010 to a mere 0.3% annual growth in the U.S., from 1.3% since 2005, and 2.9% for the period from 1995 to 2005.
Krugman (and Peter Thiel) on the paradox of low productivity in the U.S. economy from 2005-2015, a period of smartphones, Google search, and drones
05/25/2015
Krugman points out that the products from Apple, Google, Microsoft, Amazon, and other tech companies since 2005, have less impact in terms of productivity in manufacturing and other related parts of the economy, and more on consumers. In the period before 2005 tech developments were more focussed on industrial sectors of the economy leading to higher productivity improvement. Hearing my favorite music or using Google and Amazon does not add to productivity, in the same way that fundamental tech changes did in the period before 2005.
Grouped Articles
New York Times 05/25/2015
12/19/2016
Productivity growth in Britain 2009-2016
05/09/2015
Grouped Articles
The economy after the election: The climb to come
Economist 05/09/2015
The Mystery of Declining Productivity Growth
Wall Street Journal 05/15/2015
New York Times 05/25/2015
Lower unemployment in the U.S. in 2015 with weak wage gains, low productivity growth and low GDP growth
03/06/2015
Productivity growth in the U.S. since 2009 is about 1.3% according to the Labor Department, with slack in the labor market not reflected in the 5.5% unemployment rate in Feb. 2015, resulting in tepid wage gains. GDP growth for the same period is an average of about 2% with businesses not increasing capital spending as they did in previous expansions.
Grouped Articles
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
After a Bounce, Wage Growth Slumps to 0.1%
New York Times 03/06/2015
The New Jobs Report Shows Janet Yellen’s Quandary in a Nutshell
New York Times 03/06/2015
Slowing Job Growth Tests Economy
Wall Street Journal 04/04/2015
Oil Layoffs Hit 100,000 and Counting
Wall Street Journal 04/15/2015
U.S. Economic Growth Nearly Stalls Out
Wall Street Journal 04/29/2015
The next generation of technological change and how it will affect productivity, growth and society
01/30/2012
Grouped Articles
New York Times 05/25/2015
Wall Street Journal 01/30/2012
Wages, benefits and productivity in U.S. manufacturing 2005-2015
01/01/2010
Grouped Articles
Does America Need Manufacturing?
New York Times 08/24/2011
Whirlpool Shifts Some Production to U.S. From Mexico
Wall Street Journal 12/20/2013
Wall Street Journal 10/02/2010
Wall Street Journal 01/06/2012
U.S. Productivity Growth Has Taken a Dive
Wall Street Journal 02/04/2014
Falling Wages at Factories Squeeze the Middle Class
New York Times 11/20/2014
Productivity gains in the U.S. 2011-2015
10/20/2011
Grouped Articles
U.S. Productivity Growth Has Taken a Dive
Wall Street Journal 02/04/2014
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
The New Jobs Report Shows Janet Yellen’s Quandary in a Nutshell
New York Times 03/06/2015
The Mystery of Declining Productivity Growth
Wall Street Journal 05/15/2015
New York Times 05/25/2015
Goldman Sachs and J.P. Morgan Can’t Agree Why the Economy’s Productivity Has Slumped
Wall Street Journal 06/16/2015
Krugman on the economic problems in the eurozone in 2014-2015
11/30/2014
Krugman says France and Italy get a lot of attention, yet it is Germany which needs attention. Italy has problems of low productivity which do not affect the whole eurozone. He says Germany's policies are exporting deflation to other countries in the eurozone.
Grouped Articles
New York Times 11/30/2014
Prices Fall and Worry Escalates in the Eurozone
New York Times 01/07/2015
New York Times 05/25/2015
Germany to take legal action if Trump taxes imports | Business | DW.COM | 17.03.2017
DW.COM 03/17/2017
U.S. Breaks With Allies Over Trade Issues Amid Trump’s ‘America First’ Vows
The New York Times 03/18/2017
The drop in U.S. productivity from 2.9% for 1995 to 2005 to 1.3% since 2005, and 0.3% since 2010
05/15/2015
Alan Blinder, former vice chairman of the Fed discusses the alarming drop in productivity growth in the U.S. and what this means for maintaining living standards and growth in incomes. Britain is experiencing a lack of growth in productivity leading to declining real wages. China and other emerging markets are also experiencing weak productivity growth.
Grouped Articles
The Mystery of Declining Productivity Growth
Wall Street Journal 05/15/2015
New York Times 05/25/2015
Goldman Sachs and J.P. Morgan Can’t Agree Why the Economy’s Productivity Has Slumped
Wall Street Journal 06/16/2015
Washington Post 10/23/2015
A Trump Economic Boom? The Fed May Stand in the Way
The New York Times 12/13/2016
Will the Trump Era Bring Higher Interest Rates? Don’t Count On It
The New York Times 12/14/2016
U.S. annual productivity growth rate 2011-2015
02/04/2014
Grouped Articles
U.S. Productivity Growth Has Taken a Dive
Wall Street Journal 02/04/2014
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
The Mystery of Declining Productivity Growth
Wall Street Journal 05/15/2015
New York Times 05/25/2015
Goldman Sachs and J.P. Morgan Can’t Agree Why the Economy’s Productivity Has Slumped
Wall Street Journal 06/16/2015
The puzzle of continuing U.S. job gains in 2014-2015 with tepid wage growth, low productivity, and low economic growth
03/06/2015
Weak business investment, low productivity, slack in the labor market, and more low paying jobs are some of the reasons explaining the puzzle of job gains in 2014-2015 with small wage gains.
Grouped Articles
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
After a Bounce, Wage Growth Slumps to 0.1%
New York Times 03/06/2015
The New Jobs Report Shows Janet Yellen’s Quandary in a Nutshell
New York Times 03/06/2015
Slowing Job Growth Tests Economy
Wall Street Journal 04/04/2015
U.S. Economic Growth Nearly Stalls Out
Wall Street Journal 04/29/2015
The Mystery of Declining Productivity Growth
Wall Street Journal 05/15/2015
The paradox of low U.S. productivity growth holding back wages in 2015-2016 (1) - Apple Google, Facebook and low productivity improvement since 2005
12/31/2008
Linked Articles
Whatever Happened to Silicon Valley Innovation?
BusinessWeek 12/31/2008
New York Times 05/25/2015
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