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Economic Paradigms and Slow American Productivity Growth

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  • Lester C. Thurow

Abstract

Conventional explanations of America's slow productivity growth end up by giving up. Much of the slow down remains unexplained by changes in the quality or quantity of conventional inputs. If one looks at changes in occupational employment, it is clear that the productivity problem is an office and not a factory problem. White collar employment has simply grown much faster than it should have grown. To explain this growth, it is necessary to probe into theories of management and why they have led American firms into inefficiency. The answer is found in a misguided belief in "management by the numbers."

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  • Lester C. Thurow, 1987. "Economic Paradigms and Slow American Productivity Growth," Eastern Economic Journal, Eastern Economic Association, vol. 13(4), pages 333-343, Oct-Dec.
    • Handle: RePEc:eej:eeconj:v:13:y:1987:i:4:p:333-343
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume13/V13N4P333_343.pdf
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    Cited by:

    1. Catherine J. Morrison, 2000. "Assessing The Productivity Of Information Technology Equipment In U.S. Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 79(3), pages 471-481, August.
    2. Stuart Macdonald & Pat Anderson & Dieter Kimbel, 2000. "Measurement or Management?: Revisiting the Productivity Paradox of Information Technology," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 69(4), pages 601-617.

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