GMU economist Tyler Cowen offers his take on the slowdown in
US productivity growth:
“In mature economies,
higher productivity typically is required for sustained increases in living
standards, but the productivity numbers in the United States have been
mediocre. Labor productivity has been growing at an average of only 1.3 percent
annually since the start of 2005, compared with 2.8 percent annually in the
preceding 10 years.”