2
Feb
2010

2% productivity growth target is a worthy objective

by


Saul Eslake

Economic growth, in the sense of growth in the income derived from the production of goods and services, comes from four sources: from population growth; from growth in the proportion of the population employed in producing goods and services; from increases in the hours worked by those who are employed in producing goods and services; and from increases in the value of the goods and services produced by those in employment for each hour that they work.