Green Shoots of a 21st Century Productivity Boom
==========
James Pethokoukis discusses the potential for a new productivity boom akin to the Atomic and Space Ages; highlights a 2.5% increase in nonfarm business sector labor productivity for Q2 2024, up from 2.3% estimate; year-over-year productivity rose 2.7%; productivity growth driven by post-pandemic efficiencies rather than AI; Edward Yardeni notes rising productivity challenges the 'hard-landing' narrative; unit labor cost inflation at lowest since 2013; entrepreneurship surged with 420,000 new business applications monthly, up from 300,000 pre-pandemic; higher productivity growth could support 'Roaring 2020s' scenario; Paul Krugman emphasizes long-term importance of productivity.
#Productivity #Economy #Ai #Entrepreneurship #Inflation #Growth #Technology #SpaceAge #AtomicAge #EdwardYardeni
https://www.aei.org/economics/green-shoots-of-a-21st-century-productivity-boom/
American Enterprise Institute /
npub14z…4fwd3
2024-09-16 19:48:42
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wss://relay.nostr.band/allPublished at
2024-09-16 19:48:42Event JSON
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"content": "Green Shoots of a 21st Century Productivity Boom\n==========\n\nJames Pethokoukis discusses the potential for a new productivity boom akin to the Atomic and Space Ages; highlights a 2.5% increase in nonfarm business sector labor productivity for Q2 2024, up from 2.3% estimate; year-over-year productivity rose 2.7%; productivity growth driven by post-pandemic efficiencies rather than AI; Edward Yardeni notes rising productivity challenges the 'hard-landing' narrative; unit labor cost inflation at lowest since 2013; entrepreneurship surged with 420,000 new business applications monthly, up from 300,000 pre-pandemic; higher productivity growth could support 'Roaring 2020s' scenario; Paul Krugman emphasizes long-term importance of productivity.\n\n#Productivity #Economy #Ai #Entrepreneurship #Inflation #Growth #Technology #SpaceAge #AtomicAge #EdwardYardeni\n\nhttps://www.aei.org/economics/green-shoots-of-a-21st-century-productivity-boom/",
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