Re:U.S. GDP Shrank in Q1 2015
by dragonwriter on Friday May 29, 2015 @01:55PM
(#9626203)
> GDP is Gross Domestic Product, a measure of productivity.
Product(ion) is not productivity. Productivity is product/(some input measure) -- laborers and laborer-hours are common input measures when measuring labor productivity, though there are other less common kinds of productivity one might measure.
Re:U.S. GDP Shrank in Q1 2015
by humanrebar on Friday May 29, 2015 @04:53PM
(#9627338)
Definitions are boringly pedantic and beside the point. I'm saying the bigger issue is the lack of output on a national level due to undertraining, underemployment, etc.
I'd like to point out that my assertion that has been basically ignored in favor of less interesting semantic arguments.
>Definitions are boringly pedantic and beside the point. I'm saying the bigger issue is the lack of output on a national level due to undertraining, underemployment, etc.
Come on. You were wrong, the difference between production and productivity is very important. You can't just cop out and whine that 'definitions are pedantic'. No. Definitions are very important.
GDP is Gross Domestic Product, a measure of productivity. Every employed worker could be more productive while the U.S. loses productivity as a nation.
Finding ways to get more people producing useful things is what we need to think about. I was suggesting that we should reduce the cost of providing entry-level employment. This will make it cheaper for employers to hire the under-employed, under-educated, and mis-trained. At some point, the under-educated workers will become experienced workers, and likely more productive (in the individual sense) than the equivalent unemployed worker.