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Innovation and Productivity Growth: T.W. Schultz Lecture
Author(s) -
Jorgenson Dale W.
Publication year - 2011
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.1093/ajae/aaq191
Subject(s) - productivity , economics , principal (computer security) , quality (philosophy) , capital (architecture) , classical economics , neoclassical economics , macroeconomics , philosophy , computer science , geography , epistemology , archaeology , operating system
“The puzzle confronting economists has been that the rate of growth of output that was being observed has been much larger than the rate of increase in the principal resources that were being measured. It is now clear that this puzzle is of our own making because we have been using measures of capital and labor which had been refined and narrowed in ways that excluded many of the improvements that have been made in the quality of these resources.” Theodore W. Schultz (1962).