Productivity and Pay: A Survey of Workers' Perceptions

Introduction Recent declines in the rate of productivity growth in America have drawn attention to the links among productivity, unit labour costs, inflation, and living standards. Economists have focused on the causes of declining productivity growth and have identified such factors as slowdowns in capital formation, decreased spending on research and development, increased government regulation, and changes in the economy's output mix and labour force composition. McConnell has suggested alternative sources of the “productivity problem”: blem”: