{"id":415,"date":"2015-05-05T03:16:10","date_gmt":"2015-05-05T03:16:10","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymacro1xngcxmaster\/?post_type=chapter&#038;p=415"},"modified":"2018-07-30T13:16:30","modified_gmt":"2018-07-30T13:16:30","slug":"labor-productivity-and-economic-growth","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/chapter\/labor-productivity-and-economic-growth\/","title":{"raw":"Labor Productivity and Economic Growth","rendered":"Labor Productivity and Economic Growth"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Objectives<\/h3>\r\n<ul>\r\n \t<li>Describe factors that contribute to labor productivity<\/li>\r\n \t<li>Analyze the sources of economic growth using the aggregate production function<\/li>\r\n<\/ul>\r\n<\/div>\r\n<h2>Labor Productivity and Economic Growth<\/h2>\r\nSustained long-term economic growth comes from increases in worker productivity, which essentially means how well we do things. In other words, how efficiently does a nation use its workers and other resources?\u00a0<strong>Labor productivity <\/strong>is the output\u00a0that each employed person creates per unit of his or her time. The easiest way to understand labor productivity is to imagine a Canadian worker who can make 10 loaves of bread in an hour versus a U.S. worker who in the same hour can make only two loaves of bread. In this fictional example, the Canadians are more productive. Being more productive essentially means you can do more in the same amount of time. This in turn frees up resources to be used elsewhere.\r\n\r\nWhat determines how productive workers are? The answer is pretty intuitive. The main determinants of labor productivity are physical capital,\u00a0human capital, and technological change. These can also be viewed as key components of economic growth.\r\n\r\nPhysical capital can be thought of as the tools workers have to work with. More formally, <strong>physical capital<\/strong> includes the plant and equipment used by firms but also\u00a0<strong>infrastructure,\u00a0<\/strong>things like roads and other components of transportation networks\u00a0that contribute to the economy. Infrastructure is provided by governments.\u00a0 Again, greater physical capital implies more output. Physical capital can affect productivity in two ways: (1) an increase in the <span class=\"emphasis\"><em>quantity<\/em><\/span> of physical capital (for example, more computers of the same quality); and (2) an increase in the <span class=\"emphasis\"><em>quality<\/em><\/span> of physical capital (same number of computers but the computers are faster, and so on). <strong>Human capital<\/strong> is the accumulated knowledge (from education and experience), skills, and expertise that the average worker in an economy possesses. Typically the higher the average level of education in an economy, the higher the accumulated human capital and the higher the labor productivity.\u00a0\u00a0Human capital and physical capital accumulation are similar: in both cases, investment now pays off in longer-term productivity in the future.\r\n\r\nAnother factor that determines labor productivity is technology. <strong>Technological change<\/strong> is a combination of <strong>invention<\/strong>\u2014advances in knowledge\u2014and <strong>innovation<\/strong>, which is putting that advance to use in a new product or service. For example, the transistor was invented in 1947. It allowed us to miniaturize the footprint of electronic devices and use less power than the tube technology that came before it. Innovations since then have produced smaller and better transistors that that are ubiquitous in products as varied as smart-phones, computers, and escalators. The development of the transistor has allowed workers to be anywhere with smaller devices. These devices can be used to communicate with other workers, measure product quality or do any other task in less time, improving worker productivity.\r\n\r\nWhen most people think of new technology, the invention of new products like the laser, the smartphone, or some new wonder drug come to mind. In food production, the development of more drought-resistant seeds is another example of technology. Technology, as economists use the term, however, includes still more. It includes new ways of organizing work, like the invention of the assembly line, new methods for ensuring better quality of output in factories, and innovative institutions that facilitate the process of converting inputs into output. In short, technology comprises all the advances that make the existing machines and other inputs produce more, and at higher quality, as well as altogether new products.\r\n<div class=\"textbox tryit\">\r\n<h3>Try It<\/h3>\r\nhttps:\/\/assessments.lumenlearning.com\/assessments\/7462\r\n\r\n<\/div>\r\n<div class=\"section\" title=\"Sources of Economic Growth: The Aggregate Production Function\">\r\n<div class=\"titlepage\">\r\n<h2><span class=\"cnx-gentext-section cnx-gentext-t\">The Aggregate Production Function<\/span><\/h2>\r\n<\/div>\r\nWe can formalize these ideas by introducing the concept of the the aggregate production function.\u00a0\u00a0A <strong>production function<\/strong>\u00a0is the process of turning economic inputs like labor, machinery, and raw materials into outputs like goods and services used by consumers. A microeconomic production function describes the relation between the\u00a0inputs and outputs of a firm, or perhaps an industry. In macroeconomics,\u00a0the <strong>aggregate production function <\/strong>is the relationship between all the inputs in the economy and GDP.\r\n\r\n<\/div>\r\n<div class=\"section\" title=\"Components of the Aggregate Production Function\">\r\n<div class=\"titlepage\">\r\n<div>\r\n<div>\r\n<h3 id=\"m48715-fs-idp72654720\"><span class=\"cnx-gentext-section cnx-gentext-t\">Components of the Aggregate Production Function<\/span><\/h3>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\nFigure\u00a01 shows an example of the aggregate production function.\r\n\r\n[caption id=\"attachment_6378\" align=\"aligncenter\" width=\"620\"]<img class=\"wp-image-6378\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/08180151\/aggprodfunc.png\" alt=\"Flow diagram showing physical capital, human capital, and technology all going to the aggregate production function, which points towards gdp.\" width=\"620\" height=\"362\" \/> <strong>Figure 1. Aggregate Production Function.<\/strong> An aggregate production function shows what goes into producing the output for an overall economy.[\/caption]\r\n\r\n<\/div>\r\n<div class=\"section\" title=\"Components of the Aggregate Production Function\">\r\n<div id=\"m48715-CNX_Econ_C20_003\" class=\"figure\" title=\"Figure\u00a06.2.\u00a0Aggregate Production Functions\">\r\n<div class=\"body\"><\/div>\r\n<div id=\"post-551\" class=\"post-551 chapter type-chapter status-publish hentry type-1\">\r\n<div class=\"entry-content\">\r\n\r\n<span style=\"color: #333333\">We are already familiar with the idea of an aggregate production function\u2014it is the concept behind the production possibilities frontier. Remember, the PPF shows the maximum quantities of goods and services a nation can produce given the resources it has available. The aggregate production function determines those maximum quantities. Economic growth is illustrated by an increase in the production possibilities frontier, which we show in Figure 2, below.<\/span>\r\n\r\n[caption id=\"attachment_10831\" align=\"aligncenter\" width=\"300\"]<img class=\"wp-image-10831 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/08140310\/Screen-Shot-2018-05-08-at-9.02.49-AM-300x283.png\" alt=\"Graph showing health care and education ppf, with a new ppf curve that is pushed out to the right, moving from 10% to 20%.\" width=\"300\" height=\"283\" \/> <strong>Figure 1.<\/strong> Economic growth pushes out the production possibility frontier.[\/caption]\r\n\r\n<span style=\"color: #333333\">The inner PPF corresponds to the maximum GDP obtainable given the resources available in 2010. The outer PPF shows the maximum GDP obtainable given the resources available in 2010. Economic growth is illustrated by the outward shift in the PPF.<\/span>\r\n\r\n<span style=\"color: #333333\">What causes economic growth then? It must be increases in physical or human capital, or technological improvements.<\/span>\r\n\r\n<\/div>\r\n<div class=\"textbox tryit\">\r\n<h3>Try It<\/h3>\r\nhttps:\/\/assessments.lumenlearning.com\/assessments\/7463\r\n\r\n<\/div>\r\n<div class=\"entry-content\">\r\n<h2><strong>Economic Growth and the Standard of Living<\/strong><\/h2>\r\n<span style=\"color: #333333\">We indicated that economists often use real GDP per capita as a proxy for the standard of living. We can examine how the standard of living improves over time by looking at the aggregate <em>per capita<\/em> production function, shown below in Figure 3. The aggregate per capita production function is very similar to the aggregate production function, except that all elements are divided by the population.\u00a0The inputs are the average level of human capital per person, the average level of physical capital per person, and the level of technology per person.\u00a0Increases in the quantities of physical capital, human capital and technology per person lead to a higher standard of living over time.<\/span>\r\n\r\n[caption id=\"attachment_6380\" align=\"aligncenter\" width=\"637\"]<img class=\"wp-image-6380\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/08181202\/aggperperson.png\" alt=\"Flow diagram showing physical capital per person, human capital per person, and technology per person flowing to the aggregate demand function, which flows towards gdp per capita.\" width=\"637\" height=\"361\" \/> <strong>Figure 3.<\/strong> <strong>Aggregate Per Capita Production Function.<\/strong>[\/caption]\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<div class=\"section\" title=\"Measuring Productivity\">\r\n<div id=\"m48715-CNX_Econ_C20_007\" class=\"figure\" title=\"Figure\u00a06.4.\u00a0Productivity Growth Since 1950\">\r\n<div class=\"body\">\r\n<div class=\"mediaobject\">\r\n<div class=\"textbox learning-objectives\">\r\n<h3>glossary<\/h3>\r\n[glossary-page][glossary-term]aggregate per capita production function:\u00a0[\/glossary-term]\r\n[glossary-definition]aggregate production function expressed in per capita terms: inputs including physical capital per person, human capital per person, and technology per person are transformed into output measured as GDP per capita[\/glossary-definition][glossary-term]aggregate production function:\u00a0[\/glossary-term][glossary-definition]the process whereby an economy as a whole turns economic inputs such as human capital, physical capital, and technology into output measured as GDP [\/glossary-definition][glossary-term]human capital:\u00a0[\/glossary-term][glossary-definition]the accumulated skills and education of workers[\/glossary-definition][glossary-term]innovation:[\/glossary-term][glossary-definition]\u00a0putting advances in knowledge to use in a new product or service [\/glossary-definition][glossary-term]invention:\u00a0[\/glossary-term][glossary-definition]advances in knowledge[\/glossary-definition][glossary-term]labor productivity:\u00a0[\/glossary-term][glossary-definition]quantity of output produced per worker, or per hour worked (sometimes called worker productivity)[\/glossary-definition][glossary-term]production function:\u00a0[\/glossary-term][glossary-definition]the process whereby a firm turns economic inputs like labor, machinery, and raw materials into outputs like goods and services used by consumers[\/glossary-definition][glossary-term]technological change:[\/glossary-term][glossary-definition]\u00a0a combination of invention\u2014advances in knowledge\u2014and innovation[\/glossary-definition][\/glossary-page]\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Objectives<\/h3>\n<ul>\n<li>Describe factors that contribute to labor productivity<\/li>\n<li>Analyze the sources of economic growth using the aggregate production function<\/li>\n<\/ul>\n<\/div>\n<h2>Labor Productivity and Economic Growth<\/h2>\n<p>Sustained long-term economic growth comes from increases in worker productivity, which essentially means how well we do things. In other words, how efficiently does a nation use its workers and other resources?\u00a0<strong>Labor productivity <\/strong>is the output\u00a0that each employed person creates per unit of his or her time. The easiest way to understand labor productivity is to imagine a Canadian worker who can make 10 loaves of bread in an hour versus a U.S. worker who in the same hour can make only two loaves of bread. In this fictional example, the Canadians are more productive. Being more productive essentially means you can do more in the same amount of time. This in turn frees up resources to be used elsewhere.<\/p>\n<p>What determines how productive workers are? The answer is pretty intuitive. The main determinants of labor productivity are physical capital,\u00a0human capital, and technological change. These can also be viewed as key components of economic growth.<\/p>\n<p>Physical capital can be thought of as the tools workers have to work with. More formally, <strong>physical capital<\/strong> includes the plant and equipment used by firms but also\u00a0<strong>infrastructure,\u00a0<\/strong>things like roads and other components of transportation networks\u00a0that contribute to the economy. Infrastructure is provided by governments.\u00a0 Again, greater physical capital implies more output. Physical capital can affect productivity in two ways: (1) an increase in the <span class=\"emphasis\"><em>quantity<\/em><\/span> of physical capital (for example, more computers of the same quality); and (2) an increase in the <span class=\"emphasis\"><em>quality<\/em><\/span> of physical capital (same number of computers but the computers are faster, and so on). <strong>Human capital<\/strong> is the accumulated knowledge (from education and experience), skills, and expertise that the average worker in an economy possesses. Typically the higher the average level of education in an economy, the higher the accumulated human capital and the higher the labor productivity.\u00a0\u00a0Human capital and physical capital accumulation are similar: in both cases, investment now pays off in longer-term productivity in the future.<\/p>\n<p>Another factor that determines labor productivity is technology. <strong>Technological change<\/strong> is a combination of <strong>invention<\/strong>\u2014advances in knowledge\u2014and <strong>innovation<\/strong>, which is putting that advance to use in a new product or service. For example, the transistor was invented in 1947. It allowed us to miniaturize the footprint of electronic devices and use less power than the tube technology that came before it. Innovations since then have produced smaller and better transistors that that are ubiquitous in products as varied as smart-phones, computers, and escalators. The development of the transistor has allowed workers to be anywhere with smaller devices. These devices can be used to communicate with other workers, measure product quality or do any other task in less time, improving worker productivity.<\/p>\n<p>When most people think of new technology, the invention of new products like the laser, the smartphone, or some new wonder drug come to mind. In food production, the development of more drought-resistant seeds is another example of technology. Technology, as economists use the term, however, includes still more. It includes new ways of organizing work, like the invention of the assembly line, new methods for ensuring better quality of output in factories, and innovative institutions that facilitate the process of converting inputs into output. In short, technology comprises all the advances that make the existing machines and other inputs produce more, and at higher quality, as well as altogether new products.<\/p>\n<div class=\"textbox tryit\">\n<h3>Try It<\/h3>\n<p>\t<iframe id=\"lumen_assessment_7462\" class=\"resizable\" src=\"https:\/\/assessments.lumenlearning.com\/assessments\/load?assessment_id=7462&#38;embed=1&#38;external_user_id=&#38;external_context_id=&#38;iframe_resize_id=lumen_assessment_7462\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:400px;\"><br \/>\n\t<\/iframe><\/p>\n<\/div>\n<div class=\"section\" title=\"Sources of Economic Growth: The Aggregate Production Function\">\n<div class=\"titlepage\">\n<h2><span class=\"cnx-gentext-section cnx-gentext-t\">The Aggregate Production Function<\/span><\/h2>\n<\/div>\n<p>We can formalize these ideas by introducing the concept of the the aggregate production function.\u00a0\u00a0A <strong>production function<\/strong>\u00a0is the process of turning economic inputs like labor, machinery, and raw materials into outputs like goods and services used by consumers. A microeconomic production function describes the relation between the\u00a0inputs and outputs of a firm, or perhaps an industry. In macroeconomics,\u00a0the <strong>aggregate production function <\/strong>is the relationship between all the inputs in the economy and GDP.<\/p>\n<\/div>\n<div class=\"section\" title=\"Components of the Aggregate Production Function\">\n<div class=\"titlepage\">\n<div>\n<div>\n<h3 id=\"m48715-fs-idp72654720\"><span class=\"cnx-gentext-section cnx-gentext-t\">Components of the Aggregate Production Function<\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<p>Figure\u00a01 shows an example of the aggregate production function.<\/p>\n<div id=\"attachment_6378\" style=\"width: 630px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-6378\" class=\"wp-image-6378\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/08180151\/aggprodfunc.png\" alt=\"Flow diagram showing physical capital, human capital, and technology all going to the aggregate production function, which points towards gdp.\" width=\"620\" height=\"362\" \/><\/p>\n<p id=\"caption-attachment-6378\" class=\"wp-caption-text\"><strong>Figure 1. Aggregate Production Function.<\/strong> An aggregate production function shows what goes into producing the output for an overall economy.<\/p>\n<\/div>\n<\/div>\n<div class=\"section\" title=\"Components of the Aggregate Production Function\">\n<div id=\"m48715-CNX_Econ_C20_003\" class=\"figure\" title=\"Figure\u00a06.2.\u00a0Aggregate Production Functions\">\n<div class=\"body\"><\/div>\n<div id=\"post-551\" class=\"post-551 chapter type-chapter status-publish hentry type-1\">\n<div class=\"entry-content\">\n<p><span style=\"color: #333333\">We are already familiar with the idea of an aggregate production function\u2014it is the concept behind the production possibilities frontier. Remember, the PPF shows the maximum quantities of goods and services a nation can produce given the resources it has available. The aggregate production function determines those maximum quantities. Economic growth is illustrated by an increase in the production possibilities frontier, which we show in Figure 2, below.<\/span><\/p>\n<div id=\"attachment_10831\" style=\"width: 310px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-10831\" class=\"wp-image-10831 size-medium\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/08140310\/Screen-Shot-2018-05-08-at-9.02.49-AM-300x283.png\" alt=\"Graph showing health care and education ppf, with a new ppf curve that is pushed out to the right, moving from 10% to 20%.\" width=\"300\" height=\"283\" \/><\/p>\n<p id=\"caption-attachment-10831\" class=\"wp-caption-text\"><strong>Figure 1.<\/strong> Economic growth pushes out the production possibility frontier.<\/p>\n<\/div>\n<p><span style=\"color: #333333\">The inner PPF corresponds to the maximum GDP obtainable given the resources available in 2010. The outer PPF shows the maximum GDP obtainable given the resources available in 2010. Economic growth is illustrated by the outward shift in the PPF.<\/span><\/p>\n<p><span style=\"color: #333333\">What causes economic growth then? It must be increases in physical or human capital, or technological improvements.<\/span><\/p>\n<\/div>\n<div class=\"textbox tryit\">\n<h3>Try It<\/h3>\n<p>\t<iframe id=\"lumen_assessment_7463\" class=\"resizable\" src=\"https:\/\/assessments.lumenlearning.com\/assessments\/load?assessment_id=7463&#38;embed=1&#38;external_user_id=&#38;external_context_id=&#38;iframe_resize_id=lumen_assessment_7463\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:400px;\"><br \/>\n\t<\/iframe><\/p>\n<\/div>\n<div class=\"entry-content\">\n<h2><strong>Economic Growth and the Standard of Living<\/strong><\/h2>\n<p><span style=\"color: #333333\">We indicated that economists often use real GDP per capita as a proxy for the standard of living. We can examine how the standard of living improves over time by looking at the aggregate <em>per capita<\/em> production function, shown below in Figure 3. The aggregate per capita production function is very similar to the aggregate production function, except that all elements are divided by the population.\u00a0The inputs are the average level of human capital per person, the average level of physical capital per person, and the level of technology per person.\u00a0Increases in the quantities of physical capital, human capital and technology per person lead to a higher standard of living over time.<\/span><\/p>\n<div id=\"attachment_6380\" style=\"width: 647px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-6380\" class=\"wp-image-6380\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2043\/2015\/05\/08181202\/aggperperson.png\" alt=\"Flow diagram showing physical capital per person, human capital per person, and technology per person flowing to the aggregate demand function, which flows towards gdp per capita.\" width=\"637\" height=\"361\" \/><\/p>\n<p id=\"caption-attachment-6380\" class=\"wp-caption-text\"><strong>Figure 3.<\/strong> <strong>Aggregate Per Capita Production Function.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"section\" title=\"Measuring Productivity\">\n<div id=\"m48715-CNX_Econ_C20_007\" class=\"figure\" title=\"Figure\u00a06.4.\u00a0Productivity Growth Since 1950\">\n<div class=\"body\">\n<div class=\"mediaobject\">\n<div class=\"textbox learning-objectives\">\n<h3>glossary<\/h3>\n<div class=\"titlepage\">\n<dl>\n<dt>aggregate per capita production function:\u00a0<\/dt>\n<dd>aggregate production function expressed in per capita terms: inputs including physical capital per person, human capital per person, and technology per person are transformed into output measured as GDP per capita<\/dd>\n<dt>aggregate production function:\u00a0<\/dt>\n<dd>the process whereby an economy as a whole turns economic inputs such as human capital, physical capital, and technology into output measured as GDP <\/dd>\n<dt>human capital:\u00a0<\/dt>\n<dd>the accumulated skills and education of workers<\/dd>\n<dt>innovation:<\/dt>\n<dd>\u00a0putting advances in knowledge to use in a new product or service <\/dd>\n<dt>invention:\u00a0<\/dt>\n<dd>advances in knowledge<\/dd>\n<dt>labor productivity:\u00a0<\/dt>\n<dd>quantity of output produced per worker, or per hour worked (sometimes called worker productivity)<\/dd>\n<dt>production function:\u00a0<\/dt>\n<dd>the process whereby a firm turns economic inputs like labor, machinery, and raw materials into outputs like goods and services used by consumers<\/dd>\n<dt>technological change:<\/dt>\n<dd>\u00a0a combination of invention\u2014advances in knowledge\u2014and innovation<\/dd>\n<\/dl>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-415\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Modification, adaptation, and original content, including images. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Labor Productivity and Economic Growth. <strong>Authored by<\/strong>: OpenStax College. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/cnx.org\/contents\/vEmOH-_p@4.44:Rb-3d3jw@6\/Labor-Productivity-and-Economi\">https:\/\/cnx.org\/contents\/vEmOH-_p@4.44:Rb-3d3jw@6\/Labor-Productivity-and-Economi<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em>. <strong>License Terms<\/strong>: Download for free at http:\/\/cnx.org\/contents\/bc498e1f-efe9-43a0-8dea-d3569ad09a82@4.44<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":74,"menu_order":15,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Labor Productivity and Economic Growth\",\"author\":\"OpenStax College\",\"organization\":\"\",\"url\":\"https:\/\/cnx.org\/contents\/vEmOH-_p@4.44:Rb-3d3jw@6\/Labor-Productivity-and-Economi\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"Download for free at http:\/\/cnx.org\/contents\/bc498e1f-efe9-43a0-8dea-d3569ad09a82@4.44\"},{\"type\":\"original\",\"description\":\"Modification, adaptation, and original content, including images\",\"author\":\"\",\"organization\":\"Lumen 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