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Money For the Rest of Us

Why The Productivity Slowdown Could Lead to Lower Living Standards

Money For the Rest of Us

J. David Stein

Investing, Investing Podcast, Business, Economics, Economy

4.5 • 1.4K Ratings

🗓️ 19 May 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Why productivity growth is key to creating wealth. Why U.S. productivity growth is slowing, and what we can do to increase business and personal productivity.

Topics covered include:

  • How productivity is measured and how it relates to GDP, inflation, and living standards
  • How productivity growth has led to more food, better health, better housing, and more consumer goods.
  • What are potential reasons why productivity growth is slowing
  • Evidence that work from home has led to lower productivity
  • What individuals and businesses can do to increase productivity


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For more information on this episode click here.

Show Notes

The Slowdown in Productivity Growth and Policies That Can Restore It by Emily Moss, Ryan Nunn, and Jay Shambaugh—The Hamilton Project

The technology-employment trade-off: Industry, automation, and income effects by Gene Kindberg-Hanlon—World Bank Blogs

Will productivity and growth return after the COVID-19 crisis? by Jan Mischke, et al.—McKinsey & Company

Work from Home & Productivity: Evidence from Personnel & Analytics Data on IT Professionals by Michael Gibbs, Friederike Mengel, Christoph Siemroth—Becker Friedman Institute for Economics

The Work of the Future: Building Better Jobs in an Age of Intelligent Machines by David Autor, David Mindell, and Elisabeth Reynolds—Massachusetts Institute of Technology

How to Stop Worrying and Love the Robot Apocalypse (Ep. 461) by Stephen J. Dubner, Produced by Zack Lapinski—Freakanomics

Is working from home bad for productivity? by Claire Jones—Financial Times

A World Without Email: Reimagining Work in an Age of Communication Overload by Cal Newport

Effortless: Make It Easier to Do What Matters Most by Greg McKeown


Related Episodes

142: Why Are Some Nations Wealthier Than Others?

231: What Determines How Much You Make

300: Ray Dalio and the Changing World Order

331: Why Do We Work So Much?

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Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Money for the Rest of Us.

0:03.2

This is a personal financial on money, how it works, how to invest it, and how to live

0:08.8

without worrying about it.

0:10.5

I'm your host, David Stein, today is episode 343.

0:14.4

It's titled, Why The Productivity Slowdown Could Lead To Lower Living Standards?

0:20.8

I recently got an email from a listener that wanted my opinion on what he described

0:26.6

as a curious moral question.

0:29.2

He writes, I am a surgeon in my 40s, with what most people would consider the ideal job

0:35.1

at a huge academic medical center, and at the top of my game.

0:40.0

I had always planned to work like I was retired, expecting this career to bring me the interest

0:44.8

fulfillment and satisfaction and reward that exemplified retirement.

0:49.3

But the rapid corporization of our hospitals, not just privatization, but truly focusing

0:55.2

on profits and upsizing just to stay afloat, has turned my vocation into a job.

1:01.8

And while many of our healthcare systems are nonprofits, this is of course a tax status,

1:07.1

and bears little resemblance to what is actually going on.

1:10.0

I have found myself planning for a very early retirement, and I'm grateful to your podcast

1:14.8

in helping me to this goal.

1:16.8

However, there is, of course, a degree of guilt when I consider that I may cut short

1:22.3

20 years of potential service to others in doing so.

1:26.6

When I speak to others in hushed voices in the quarters, 95% of my colleagues are feeling

1:31.7

the same.

1:33.2

Many however are not in the position to exit, and so remain frustrated, but that's another

...

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