The Recent Productivity Slowdown

William D. Nordhaus

Discussants: Barry P. Bosworth, Beatrice N. Vaccara, and Robert Solow

1972, No. 3

DURING THE FIRST HALF OF THE TWENTIETH CENTURY, the growth of output per manhour(hereafter called “labor productivity”) was accelerating. According to Kendrick, labor productivity grew at an annual rate of 1.7 percent over the 1899-1929 period, and then at 2.4 percent over the 1929-57 period. The acceleration of the early part of the century, however, was apparently reversed some time in the postwar period, as the following table shows:

The Brookings Institution is committed to quality, independence, and impact.
We are supported by a diverse array of funders. In line with our values and policies, each Brookings publication represents the sole views of its author(s).

The Recent Productivity Slowdown

Subscribe to the Economic Studies Bulletin

The Recent Productivity Slowdown

William D. Nordhaus WDN William D. Nordhaus Discussants: Barry P. Bosworth, Barry P. Bosworth Senior Fellow Emeritus - Economic Studies Beatrice N. Vaccara, and BNV Beatrice N. Vaccara Robert Solow RS Robert Solow

William D. Nordhaus

Discussants: Barry P. Bosworth, Beatrice N. Vaccara, and Robert Solow