In our blog of 9 Oct 2020, (Productivity: The Key to Economic Growth), we commented on the importance of productivity, defined as economic benefit per worker. Historically, the U.S. has done a relatively good job regarding productivity. Moreover the increasing adoption of direct human/robotic interaction, as discussed in our blog of 15 Oct 2020, (Cobots), … Continued
Productivity describes various measures of the efficiency of production. There are many different definitions of productivity. Perhaps the most common, and probably the easiest to understand, is an aggregate labor productivity measure, such as GDP per worker. In other words, how much economic benefit is derived from the contribution of each worker. In order for … Continued
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