Taylor is just hand-waving
Reader comment on: The Fight Over 5% Growth
Submitted by Ted Frank (United States), Jun 23, 2011 06:56
Taylor's argument is not credible except as an argument from authority. We got 2.7% productivity growth as a statistical artifact from shrinking the number of employees. We can't generate 2% employment growth and 2.7% productivity growth at the same time without unprecedented technological innovation, and even if we did, that's still not 5%. *Maybe* we could get a one-time boost through radical deregulation that is not remotely politically feasible.
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