The Productivity Puzzle

Irving Wladawsky-Berger

Economic growth has two main components, productivity growth and the growth of the labor force. I ncreasing productivity is thus more crucial than ever to promote economic growth. But, in the US and other advanced economies, productivity growth has significantly slowed down over the past few decades. From 1987 to 2004 US labor productivity grew at a 2.1% Since 2011, the productivity rate has further declined to 0.6%. . US labor productivity grew at only 1.5%

AI and the Productivity Paradox

Irving Wladawsky-Berger

But, at the same time, productivity growth has significantly declined over the past decade, and income has continued to stagnate for the majority of Americans. This puzzling contradiction is addressed in Artificial Intelligences and the Modern Productivity Paradox , a working paper recently published by the National Bureau of Economic Research (NBER). Economists have proposed competing explanations for declining productivity growth and so far have failed to reach a consensus.” .

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“Flexible Security”: A Sensible Social Policy for our Digital Age

Irving Wladawsky-Berger

Or, do we also need social policies to promote job creation and assist workers who’ve lost their jobs? One of the Foreign Affairs articles, - The Next Safety Net: Social Policy for a Digital Age by Nicolas Colin and Bruno Palier , - offers some answers to these questions. “As Social policy will therefore have to cover the needs of not just those outside the labor market but even many inside it.

Global Arbitrage and the Productivity Puzzle

Irving Wladawsky-Berger

A couple of weeks ago I wrote about The Productivity Puzzle , - namely that despite our continuing technology advances, the US and other developed economies have experienced a sharp decline in productivity growth over the past 10 to 15 years. So far, though, economists have failed to reach consensus on the causes of the productivity growth slowdown or indeed the relative significance of the various arguments,” wrote McKinsey.

AI and the Productivity Paradox

Irving Wladawsky-Berger

But, at the same time, productivity growth has significantly declined over the past decade, and income has continued to stagnate for the majority of Americans. This puzzling contradiction is addressed in Artificial Intelligences and the Modern Productivity Paradox , a working paper recently published by the National Bureau of Economic Research (NBER). Economists have proposed competing explanations for declining productivity growth and so far have failed to reach a consensus.” .

Cloud, Services and the Transformation of Production

Irving Wladawsky-Berger

Cloud-based services require a much more standardized, mass customized , process oriented, industrialized approach to production , including the application of advanced technologies and rigorous science, engineering and management methodologies. . What do we mean by the production of services ? Production is defined as “a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).

Global Arbitrage and the Productivity Puzzle

Irving Wladawsky-Berger

A couple of weeks ago I wrote about The Productivity Puzzle , - namely that despite our continuing technology advances, the US and other developed economies have experienced a sharp decline in productivity growth over the past 10 to 15 years. So far, though, economists have failed to reach consensus on the causes of the productivity growth slowdown or indeed the relative significance of the various arguments,” wrote McKinsey.

Corporate Social Media Policies

Tony Karrer

I've posted before a list of Corporate Policies on Web 2.0 Corporate Access that shows that a significant number of corporate policies are to shut down access to the tools. When introducing social media into the workplace, how do we address HR concerns about reduced employee productivity? There's a very interesting set of questions in the post Happy New Year! AND do you have opinions about social media governance?

IT, Productivity and Organizational Capital

Irving Wladawsky-Berger

crisis , economic policies that encourage capital investment and job creation must be our top near-term priorities. But, to achieve long term economic growth, as well as gains in our standard of living , the US must also focus on innovation and productivity growth. US labor productivity - “the amount of goods and services that a laborer produces in a given amount of time” - grew at only 1.5% But, starting in the mid 1990s, US labor productivity surged to over 2.5%.

Solow Paradox 2.0: The Lagging Impact of Technology Advances on Productivity Growth

Irving Wladawsky-Berger

Our aging economies are thus dependent on productivity gains to drive long-term economic growth , future prosperity and higher standards of living. Which is why few topics have generated as much concern among economists and policy makers as the sharp decline in productivity growth in the US and other advanced economies over the past decade, - despite accelerating technology advances. Their average productivity growth in the 5 years between 2000 and 2004 was 2.4%.

The Link Between BYOD and Increased Productivity

TOPYX LMS

IBM MobileFirst gives an excellent definition of BYOD: “ Bring your own device (BYOD) is an IT policy where employees are allowed or encouraged to use their personal mobile devices—and, increasingly, notebook PCs—to access enterprise data and systems. Well over half of all companies promote one of these four types of bring-your-own-device policies. A BYOD policy also makes it easy for employees to access corporate data and online training materials, which can increase productivity.

Productivity and Employment (and Technology): In the Jaws of the Snake

Andy McAfee

Bernstein is a senior fellow at the Center on Budget Policies and Priorities , the former chief economist to Vice President Joe Biden, a sharp thinker, great speaker, and prolific blogger. It’s a graph of American labor productivity growth and employment growth for the whole post-war period. After that point they started to diverge, with labor productivity continuing to grow nicely while employment growth leveled off, then turned negative during the Great Recession.

Three vendors and/or products to love: Computer parts, music, electric toothbrush

David Weinberger

So far, the experience has been terrific: Quick responses, friendly people, good return policy. Yo, Humbles, I already bought the product. I wanted to replace the smashed screen of a white MacBook, and found what seemed like a very good price from Wegener. The new screen arrived very quickly, and was exactly as described. But when I started to strip down the MacBook, I discovered I had ordered the wrong screen. It’s surprisingly easy to do.

A cool new (free!) productivity tool | Daniel Pink

Dan Pink

Personal Productivity (14). productivity tool At the heart of most organizations is a disconnect. It’s not a magic elixir for anybody’s productivity woes. Browse Similar Posts: Motivation , Personal Productivity , Tools. This is a great tool, productivity tracking = awesome! We praise each other for being so productive and forgive each other when the day wasn’t as fruitful as we’d hoped. Comment Policy: First time comments are moderated.

Can a 5-minute exercise double your productivity? | Daniel Pink

Dan Pink

Personal Productivity (14). Can a 5-minute exercise double your productivity? How do you stay as productive as you want to be? Comment Policy: First time comments are moderated. Dan Pink. Contact. Follow Dan on Twitter. About Dan. Speaking Engagements. Video. Articles. Office Hours. Drive. A Whole New Mind. Johnny Bunko. Daniel H. Pink is the author of four provocative bestselling books about the changing world of work.

Why Creating Space for Creative Time in the Nonprofit Workplace Improves Productivity

Beth Kanter

Activities are designed to support organizational wellness for greater productivity and morale boosts. Many told them that sometimes they just need some “creativity time,” that is to go to a museum or walk around. The organization formalized “creativity time” in its employees handbook and established a policy that staff take “creativity time” as half-day per month. The benefit is not only stress reduction, but improved productivity. Flickr Photo by AstridWestvang.

The (slightly) surprising truth about family-friendly workplaces.

Dan Pink

Personal Productivity (14). The (slightly) surprising truth about family-friendly workplaces Do family-friendly policies like childcare subsidies and job sharing increase productivity and profits? In their study of more than 450 manufacturing firms in the US and Europe, they found that family-friendly workplace practices (FFWP) were associated with more productive companies — but that was because the companies were well-run in the first place. Dan Pink. Contact.

Does giving teachers bonuses improve student performance.

Dan Pink

Personal Productivity (14). One of the hottest ideas in education policy these days is tying teacher pay to student performance on standardized tests. Here, from the paper’s abstract (and with italics added), are his key findings: “Financial incentives for teachers to increase student performance is an increasingly popular education policy around the world. It was fed by a policy that had nothing to do with education. Dan Pink. Contact.

Building Better Jobs in an Age of Intelligent Machines

Irving Wladawsky-Berger

Yet, it argues that with better policies in place, more people could enjoy good careers even as new technologies transform the very nature of work. Between 1978 and 2016, productivity rose by 66%, an annual growth rate of 1.3%, while median compensation increased by only 9%.

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A Nonprofit’s Legal Counsel Is The Social Media Manager’s Best Friend!

Beth Kanter

The session will focus on exploring how nonprofits are expanding their efforts to influence public policy through social channels and understanding the legal issues and how to evaluate the work. (I’ll The “ Influencing Public Policy in A Digital Age ” is their comprehensive guide. She works in partnership to vet issues that arise from their social media policy and online community management. Social Media Work Flow for your Social Media Policy.

The R3 Lab Welcomes Adaptive Path

Adaptive Path

To be mindful of the environmental, cultural, societal, and economic implications of the information, products, and services they bring forth. I have been invited to bring Adaptive Path’s approach to designing for Real Product Ecosystems. We are accountable for the information we put out into the world just as much as we are accountable for the products and services we design.

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User-Based Free Innovation

Irving Wladawsky-Berger

Free innovation is a tightly constrained subset of commons-based peer production , - also known as open, collaborative innovation. How can individuals justify developing a product or service which is freely made available to anyone while no one pays for their labor?

Reflections from 2011 – The Year of Mobile, Again

Luis Suarez

With plenty of business travelling and frenzy at work one learns to build a certain level of expectations that you would want to see met, so you can keep up being rather productive and effective, which is what matters at the end of the day. Trying to stay connected, while on the road, to keep being productive with the Social Web. General Interest Innovation iPad iPhone Knowledge Tools Personal KM Productivity Tools Social Enterprise

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Facebook and the User Experience of Privacy

Adaptive Path

Although few of them would describe it this way, many of the people agitating for change to Facebook are really asking for changes to the user experience, not to Facebook’s policies or even functionality. Tags: Information Architecture Product Design This recent graphic from the New York Times summarizes the chief complaint with Facebook quite nicely.

TED2010 Thought: Failure is not NOT an option

Adaptive Path

Tom Schlegel, VP of Product Development at Radio Flyer, the makers of that iconic red wagon, spoke about how, after he got there, he pretty much instituted a policy of being okay with failure. And after having put a lot of money into the product development, they scrapped it. Tags: Product Management This isn’t necessarily a new thought, but it’s always worth hearing again.

How Covid Is Reordering the Global Economy

Irving Wladawsky-Berger

It’s becoming increasingly clear that “the pandemic will lead to immense structural changes in the global economy: less globalized, more digitized, and less equal.” Supply chains will bring production closer to home to cut risks.

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The Evolution of American Capitalism - Tweaks, Reforms, or Wholesale Change?

Irving Wladawsky-Berger

The 1970s saw a shift toward neoliberalism , a model of capitalism which advocated a nearly universal trust in the inherent wisdom of markets, and a highly circumscribed role for government policies and regulations.

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On Amsterdam, bikes and the Copenhagen Wheel thingy

Adaptive Path

All this data can be used inform urban planning, transit systems and environmental policies in service to sustainable cities. Ultimately, this type of crowd sourcing can influence how your city allocates its resources, how it responds to environmental conditions in real-time or how it structures and implements environmental and transportation policies. Tags: Experience Design Futures Idealism (Uncensored) Mobile Product Design Trends

I Know It When I See It

Andy McAfee

product?&# – are just windowdressing on products that are still essentially geared for Collaboration 1.0. Whose products at present come closest to enabling Web 2.0-style collaboration and interaction in enterprise environments? products that lack the ability to produce “meaningful&# RSS feeds. This all has one mutually beneficial purpose: Businesses want to create the products and services their customers are interested in, in order to be more successful.

AI, Automation and the US Economy

Irving Wladawsky-Berger

On December 20, the White House released Artificial Intelligence, Automation, and the Economy , a new report that investigates how AI will likely transform job markets over time, and recommends policy responses to address AI’s impact on the US economy. Whether AI leads to unemployment and increases in inequality over the long-run depends not only on the technology itself but also on the institutions and policies that are in place.”. Technology and Productivity Growth.

The Economic Potential of The Internet of Things

Irving Wladawsky-Berger

It applied a bottom-up modeling methodology to estimate the potential economic value of these various applications, including productivity improvements, time savings, better asset utilization and reduced accidents. . Human - Monitor and promote improved health, wellness, fitness, and productivity using personal wearable devices and appliances. Offices - Organizational and personal productivity, training, energy monitoring, building security. Public Policy.

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COVID-19 & Leadership

Dave Snowden

The resulting data will be used to better understand how to globally scale this distributed capture and further generate partnerships for policy work and investment. Instead, we are relying on over a decade of experience in practicing complexity science and establishing projects all over the world in Government, business, academia, policy, the development sector, and beyond.

Reflections on the Later Stages of Our Careers

Irving Wladawsky-Berger

A few parameters account for most individual differences: the age at which the career starts, the career’s initial creative potential, the rates at which new ideas are generated, and the rate at which the ideas become finished results as publications or products.

The MIT Work of the Future Report

Irving Wladawsky-Berger

“The world now stands on the cusp of a technological revolution in artificial intelligence and robotics that may prove as transformative for economic growth and human potential as were electrification, mass production, and electronic telecommunications in their eras,” said the MIT Task Force on the Work of the Future in its recently released interim report. Policy Proposals for the future.

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Impact of an Aging Population on Economic Growth and Automation

Irving Wladawsky-Berger

Top economists and policy makers have proposed a number of explanations for the economic slowdown, but in the end, there’s no consensus on the reasons, on how long the slowdown will likely last, or on what to do about it. Economic growth has two main components, productivity growth and the growth of the labor force. Finally, Acemoglu and Restrepo analyzed the relationship between an aging labor force and productivity as measured by the value added per worker.

America’s Obsession with Economic Efficiency

Irving Wladawsky-Berger

Economic and productivity growth used to be tightly coupled. Between 1948 and 1973, productivity grew 96% while wages grew 91%. But between 1973 and 2018, while productivity grew by 77%, wages grew just 12% or 0.027% per year.

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Our Top Tips for Managing from Home

Xyleme

And I always keep a virtual “Open Door” policy so my team members know I am always available if they need anything.”. Product Management Team – Florida, USA. Managing from Home' Tips from Our Experts. Working from home is one thing, but what about managing from home? As a dispersed organization with a predominantly remote workforce, we know a thing or two about not only working from home, but managing from home as well.

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How Will Covid-19 Transform Urban Life?

Irving Wladawsky-Berger

That means that if you double the population of a city, there will be a roughly 15% increase in productivity, wages, entertainment and educational institutions, and so on. I n How Life in Our Cities Will Look After the Coronavirus Pandemic , Foreign Policy asked 12 leading urban planning experts, including professors Florida and Glaeser, for their predictions.

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Republicans suggest shockingly sensible ideas for reforming copyright

David Weinberger

The current copyright legal regime leads to the greatest innovation and productivity. And the four “potential policy solutions” are: Statutory damages reform. A Republican Study Committee has posted a document (as a pdf ) that nails three myths about copyright law and suggests four areas of reform. The 3 myths are: The purpose of copyright is to compensate the creator of the content. Copyright is free market capitalism at work.

Are Innovation and R&D Yielding Decreasing Returns?

Irving Wladawsky-Berger

Since the 1970s, US productivity and income growth have dipped sharply except for an Internet-driven productivity boost between1996 and 2004. Are Ideas Getting Harder to Find? , - a recent paper by economists Nicholas Bloom , Charles Jones and Michael Webb from Stanford and John Van Reenen from MIT, - shows that, across a wide range of industries, research efforts are rising substantially while research productivity is declining sharply.

Open Letter on the Digital Economy

Irving Wladawsky-Berger

Over time, these innovations transformed the economy, re-shaped the institutions of society, and ultimately led to the creation of all kinds of new, more productive industries and many new kinds of jobs. . By raising productivity, they argue, any automation which economises on the use of labour will increase incomes. That will generate demand for new products and services, which will in turn create new jobs for displaced workers…”.

The Challenges of Automation in a Fast Changing Economy

Irving Wladawsky-Berger

The report is divided into two sections: The Case for Action , which explores how automation impacts the economic security and opportunity of American workers, and Policies for Shared Prosperity , which outlines a policy agenda for addressing automation’s challenges and opportunities. Technology has been replacing workers and improving productivity ever since the advent of the Industrial Revolution in the second half of the 18th century. Policies for Shared Prosperity.

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The New, Interdisciplinary, MIT Schwarzman College of Computing

Irving Wladawsky-Berger

transform education and research in public policy and ethical considerations relevant to computing and AI. Schwarzman added that in countries with centrally managed industrial policies , like China, governments are strongly supporting the development of AI and related technologies and applications. A few months ago, MIT president Rafael Reif announced the launch of the Stephen A.

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