Tag: economic theory

Understanding What Productivity Means

February 8th, 2010   •   1 comment   

Courtesy of The Right Time Is Now

Productivity, the old panacea of economic goodwill, is making a comeback yet again. Several of our leaders have cited its importance, and the latest budget to be unveiled on 22 Feb will announce measures to boost productivity. I am certainly excited about this outcome as it may be the only way forward in a natural resource constrained economy like ours.

In order to understand what productivity is about, let us look at its basic ingredients, which is Value Added. According to Wikipedia,

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