{"title":"The Demise of US Dynamism Is Vastly Exaggerated – But Not All Is Well","authors":"A. Bhide","doi":"10.2139/ssrn.2557154","DOIUrl":null,"url":null,"abstract":"Estimates of total factor productivity are based on assumptions that preclude the decentralized, broad-based innovation that undergirds the dynamism of capitalist economies. Thus the decline in standard measures of productivity – which fly in the face of most everyday experience – is not a cause for alarm. We should however be concerned by the declining numbers of improvised but promising new businesses.","PeriodicalId":448105,"journal":{"name":"ERN: Productivity (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2015-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Productivity (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.2557154","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1
Abstract
Estimates of total factor productivity are based on assumptions that preclude the decentralized, broad-based innovation that undergirds the dynamism of capitalist economies. Thus the decline in standard measures of productivity – which fly in the face of most everyday experience – is not a cause for alarm. We should however be concerned by the declining numbers of improvised but promising new businesses.
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