The Role of Management in Labor Productivity (Classic Reprint)

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Excerpt from The Role of Management in Labor ProductivityOver the last five years, productivity growth in the American private economy has averaged 2.1 percent per year compared with a 20-year average growth rate of 3.0 percent a year. The slowdown in productivity growth has been sharper and longer lasting than that usually associated, with the final stages of a business boom and a recession in business activity. Although most economists agree that a return to a higher level of capacity utilization will produce an improvement in man-hour output, the record of the past five years has led to some speculation that we may be running out of technological steam and that it will be difficult to achieve an accelerated rate of productivity growth in the years ahead.I do not agree with this diagnosis. I believe that there are vast opportunities for improving labor productivity in the American economy but that these opportunities lie primarily in the inter-firm locus rather than the intra-firm area which until now has been the major sphere for our productivity emphasis.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.