Why Firms Need to Rethink the Way They Measure Productivity
When a company undergoes a technological change — such as introducing robots or reorganizing the workflow in manufacturing — does it mainly make individual workers more productive because they will be able to churn out more widgets per hour? Or does it make all factors of production equally more productive — workers can produce more widgets, state-of-the-art equipment can accomplish tasks faster, materials that can … [ Read more ]
Content: Article | Authors: Jordi Jaumandreu, Ulrich Doraszelski | Source: “Knowledge@Wharton” | Subject: Economics