At 02:04 PM 9/20/2004 -0700 Dave Land wrote:
>As if growth in productivity was necessarily an unalloyed
>good. There are plenty of ways to measure and achieve
>increases in per-worker productivity, including holding
>down wages and laying people off.
The first part is incorrect. Productivity is measuresd as output per
hour, not as output per dollar in wages.
The second part, is, of course, correct. Whenever there are diminishing
marginal returns to labor, laying off a worker will increase productivity.
JDG
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John D. Giorgis - [EMAIL PROTECTED]
"The liberty we prize is not America's gift to the world,
it is God's gift to humanity." - George W. Bush 1/29/03
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