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An interesting set of statistics, however, I would attribute much of the rise in productivity to technological advancement, and so an increase in wages wouldn’t be as necessary as opposed to an increase in productivity as a consequence of work load increases.
Throughout history, though, growth has been very closely linked to productivity, hence the recent ‘crisis’ of large volumes of manufacturing jobs moving to the tertiary sector – a much more difficult environment in which to increase productivity. So why when the productivity of a Nation is clearly increasing, does the growth still remain close to stagnant?
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