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Comments on: So tired … http://www.tvhe.co.nz/2009/05/15/so-tired/ The Visible Hand in Economics Mon, 18 May 2009 02:39:40 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Truth Seeker http://www.tvhe.co.nz/2009/05/15/so-tired/#comment-19783 Mon, 18 May 2009 02:39:40 +0000 http://www.tvhe.co.nz/?p=3834#comment-19783 I’m always skeptical when a metric becomes the goal. It seems to always end badly with the law of unintended consequences to the fore.

What bothers me about the productivity mantra these days is no one who invokes seems to ever offer a plausible way of achieving it. It comes across as more of a fervent hope or a really big wish….or maybe a mantra in support of some article of faith.

I suspect this is why nothing ever changes. The ticket-clipping, slef-styled ‘entrepreneurs’ wouldn’t know a winning strategy if they fell over it.

Rince and repeat with respect to “innovation”…the thing that is supposed to deliver higher productivity…and also almost never defined.

Whenever I now hear someone talking about innovation to enable higher productivity, I generally save time and effort by noting “empty waffle” as my summary of what was said.

]]> By: Gareth http://www.tvhe.co.nz/2009/05/15/so-tired/#comment-19782 Mon, 18 May 2009 01:29:07 +0000 http://www.tvhe.co.nz/?p=3834#comment-19782 Equally frustrated. The number of times the PM has uttered “we need productivity growth” without ANY mention of how he’s going to do that astounds me.
I remember him specifically stating that productivity growth was going to come from the tax cuts during the election campaign. BIG believer in the Laffer curve it seems, even though it’s been shown as overly simplistic and seems to have little to do with the productivity issues we face (we don’t need incentives to work longer hours).

]]> By: Mattyoug http://www.tvhe.co.nz/2009/05/15/so-tired/#comment-19760 Fri, 15 May 2009 06:00:19 +0000 http://www.tvhe.co.nz/?p=3834#comment-19760 It is neither productivity nor output. It is balance. All we can do is to move toward a better balance, or smoothness among elasticities; but we can never reach it.

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