Understanding the Solow residual in economic growth accounting, its importance, and applications.
The assertion that over time the size of the public sector will increase as a proportion of the economy, due to its relative labour intensity and inability to substitute capital for labor.
Unemployment caused by wages being too high relative to productivity, leading to an inability of firms to profitably employ all available labor.
An in-depth look at the concept of factor-augmenting technical progress in economics, exploring its definition, historical context, and various analytical frameworks.
Large improvements in agricultural productivity in less developed countries due to improved plant varieties and widespread use of fertilizers and pesticides.
The concept that productivity increases through practice and experience.
A measure of output per unit of labour input, used in comparing productivity.
The amount of output per unit of input achieved by a firm, industry, or country.
Externalities generated by the education of individuals that benefit society beyond individual wages.
Improvement in knowledge about techniques for production, allowing for more output or efficiency.
The study of working procedures with a view to improving their efficiency, safety, or comfort.
An examination of the failure of firms or organizations to achieve maximum possible efficiency with their inputs.
