PRODUCTIVITY gains are vital to long-term GROWTH because they typically translate into higher incomes, in turn boosting DEMAND. That process takes time, of course - especially if, SAY, the initial recipients of increased INCOME already have a high savings rate.

Author - Michael Spence


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Posted on 28 Nov 2024, this text provides information on Productivity related to Michael Spence. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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