28 min
How low productivity cost you $25,000 Chicago Booth Review Podcast
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- Education
For the past 20 years, the growth in US productivity has been sluggish at about 1.2%, compared to the 3% pace at which it grew from the mid-1990s to the mid-2000s. Chicago Booth’s Chad Syverson says that if US productivity hadn’t slowed, the US economy would be bigger to the tune of $25,000 per person. So what’s happening to productivity, and is it finally about to turn the corner?
For the past 20 years, the growth in US productivity has been sluggish at about 1.2%, compared to the 3% pace at which it grew from the mid-1990s to the mid-2000s. Chicago Booth’s Chad Syverson says that if US productivity hadn’t slowed, the US economy would be bigger to the tune of $25,000 per person. So what’s happening to productivity, and is it finally about to turn the corner?
28 min