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Productivity, its components, and its limits

Laborinfo-icon and capital productivity growth was seen as the key driver of growth during the past 250 years. However, we didn't get more productive based on our ingenuity alone, the key drivers were increased energy and resource use with low energy and resource productivity.

Coming Soon: Productivity is one of the key components of economic science explaining the rapid growth of our economies during the past centuries, gaining more and more benefit from one unit of laborinfo-icon or capital. What was never discussed: while labor and capital productivity increased, resource and energy productivity remained poor, which did not matter as long as natural resources and fossil fuels were cheap. But now, it does.

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