this post was submitted on 10 Mar 2024
0 points (NaN% liked)

Europe

8488 readers
1 users here now

News/Interesting Stories/Beautiful Pictures from Europe 🇪🇺

(Current banner: Thunder mountain, Germany, 🇩🇪 ) Feel free to post submissions for banner pictures

Rules

(This list is obviously incomplete, but it will get expanded when necessary)

  1. Be nice to each other (e.g. No direct insults against each other);
  2. No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
  3. No posts linking to mis-information funded by foreign states or billionaires.

Also check out !yurop@lemm.ee

founded 1 year ago
MODERATORS
poVoq@slrpnk.net
0
Europe faces ‘competitiveness crisis’ as US widens productivity gap [ft.com] (archive.ph)
submitted 8 months ago by anzich@feddit.de to c/europe@feddit.de
22 comments fedilink hide all child comments
 

Original link https://www.ft.com/content/22089f01-8468-4905-8e36-fd35d2b2293e

you are viewing a single comment's thread
view the rest of the comments
[–] Diplomjodler@feddit.de 0 points 8 months ago (1 children)

I'm economics, productivity just means labour hours divided by revenue. This has nothing to do with how hard, efficient or effective anybody works.

[–] Mahlzeit@feddit.de 0 points 8 months ago

On a national level, in macro-economics, productivity is GDP divided by total hours worked (for money).

I'd say that a high productivity generally means working less hard, because machines do the tough bits. A high productivity requires a very high skilled labor force, using a lot of machines and robots. It's by definition an efficient and effective use of labor, though one could ask pointed questions about environmental degradation.