30.9.09

Productivity, Unemployment, and the End of the Recession-Becker

My overall conclusion is that productivity advances will lead the world out of the recession, and after a while toward a decent rate of growth in world GDP. These advances will occur even if the financial sector is not fully recovered from its crisis. As productivity advances continue at robust levels, that will stimulate the demand for labor, and begin to reduce unemployment and produce sizable rates of growth in employment.
http://www.becker-posner-blog.com/archives/2009/09/productivity_un.html

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