Wednesday, August 24, 2016

Using today's technology to produce tomorrow's goods

We’re Working Harder Than Ever, So Why Is Productivity Plummeting?


The article is from time magazine.  It misses an important point, when central banks try to pull future consumption backward to today, then they ate producing tomorrow's goods with yesterday's technology.  It is a coordination failure, technology was not prepared but the central bank forced production anyway; result is lower productivity..

No comments: