The Productivity Puzzle
Curious about manufacturing? Much attention is given to imported manufactured products, but Scott Wolla's Page One Economics essay The Productivity Puzzle examines how much is produced here in the U.S. and what factors contribute to productivity and economic growth. To understand why the U.S. produces twice as much as it did in 1982 with one-third fewer workers, the author discusses several factors at play, including changing productivity over time and the ways in which technology, government spending, and physical and human capital can affect production. See the full essay here.