«Import growth captures both the «true» part of productivity growth (since increased capital investment typically requires an expanding current account deficit) as well as the illusory part of productivity growth (resulting from the failure to account for foreign labor input in the productivity numbers). (hussmanfunds.com)
Improved management and automation enables production with fewer people Falling need for labor inputs means that labor force and labor productivity growth are not the constraints on production growth they once were. (propertypak.com)
«Yet long - run economic progress comes from finding ways to reduce labor input and redeploying workers to new, growing industries.» (inc.com)