Should We Be Worried About Productivity Trends?
Many economists are concerned about the apparent structural decline in productivity growth that is underway in many parts of the world. But the single-minded focus on productivity growth fails to account for societies' shifting priorities, which reveal preferences unrelated to maximizing income growth.
MILAN – Economists concern themselves not only with addressing difficult questions thoughtfully, but also with formulating the questions themselves. Sometimes, rethinking those questions can hold the key to finding the answers we need.