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December 1977

U.S. Productive Capacity: A Comment

by Pham Chi Thanh

I find myself in a somewhat unenviable position. The three papers you heard this morning represent three different approaches to the measurement of U.S. productive capacity. The three conclusions that emerged differ quite significantly from one another—almost to the point of being contradictory. It is virtually an impossible task as a discussant, therefore, to be nice to all of the authors since if one agrees with one, one will probably have to disagree with another. The easiest way out perhaps is to play the role of a Devil’s Advocate to all three papers, and so I will try to catch the Devil by the ideological tail first.