Productivity, its components, and its limits

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Labor and capital productivity growth was seen as the key driver of growth during the past 250 years. However, we didn't get more productive based on our ingenuity alone, the key drivers were increased energy and resource use with low energy and resource productivity.

Productivity is one of the miracles of the past 250 years. However, we didn't get more productive based on sheer ingenuity, the key driver was increased energy and resource use.

Coming Soon: Productivity is one of the key components of economic science explaining the rapid growth of our economies during the past centuries, gaining more and more benefit from one unit of labor or capital. What was never discussed: while labor and capital productivity increased, resource and energy productivity remained poor, which did not matter as long as natural resources and fossil fuels were cheap. But now, it does.