Social Sciences and History / Unit 14 SSH 1314 short lesson, about 20 seconds
Productivity Is the Primary Determinant
Captions available
The idea
Labor productivity is the value produced per worker or per hour. Its growth rate is the primary determinant of long-term growth and higher wages. The United States slowed from nineteen seventy-three to eighty-nine, rebounded, then grew under one percent yearly from twenty eleven to sixteen.
In practice
Compound growth behaves like compound interest.
Where people slip
The dates and rates are the anchor's.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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