Assignment:
Discussion Question
Why do you think that increases in total factor productivity are important for a country as a whole? What about for an individual in particular?
Data Source
The Bureau of Labor Statistics: To reproduce (and expand) Table: Select "nonfarm business" for sector, then "real hourly compensation" (real wages) and "Labor productivity (output per hour)" for measures, and finally "percentage change from same quarter a year ago" for duration. When done, click "get data."
Related Article
Greenspan, Alan, "The Revolution in Information Technology": In this speech, Greenspan points out the implications of the revolution in information technology for the U.S. economy.