Showing posts with label productivity. Show all posts
Showing posts with label productivity. Show all posts

Wednesday, December 28, 2011

U.S. Real Productivity 1947-2010

It seems as if the United States has become much more productive over time. Using data from the BLS I use 1947 as a baseline of 100 and adjusted for yearly increases in productivity. The United States is 4 times more productive than we were in 1947! The greatest gains were seen in the 1990's. People argue that tax rates were higher and we still had a great economy during this time period. However, I would argue we had a great economy despite high taxes. People forget the technological revolution we had during this time period. What is interesting is that we still seem to have modest increase in productivity.