U.S. National Security

Productivity may humble many different things, depending upon the context in which the term is used. With the contin uing advances in manufacturing technology, the multifactor productiveness concept is probably the most valid flier. Multifactor productivity is the ratio of output per unit of labor and capital inputs combined, which enables the productivity ratio to reflect changes in a number of factors (such as technology, shifts in labor force composition, capacity physical exercise changes, research and development, work force skills and effort, and management quality) which affect the end product process.2

Output may also be measured in terms of the quantity of products and services produced. In one sense, this glide path is superior to the use of value as stated in constant prices. The use of a valueestablish measure incorporates monetary factors and product sale prices into the productivity equation. Such factors melt to distort the productivity of workers. On the other hand, in a technologically advanced economy, a productivity measure based only on labor inputs tends to distort productivity measures. 3

In the modern time period, American productivity is often compared with that of Japan. Recent trends in Japanese and American productivity are presented in disconcert 1, which may be found below on this page.

Council of Economic Advisors. Economic Indicators. Washington: coupled States Government Printing Office, September 1990.

An industrial polity attempts to suffer an economic environment which either (1) supports industrial development generally, or (2) promotes the development of precise industries or sectors of an economy.7 Such a policy might include (1) tax incentives to support either coronation or exports, (2) subsidiesdirect or indirectto industrial firms or industries, (3) protection against foreign competition, (4) 6worker training programs, (5) fundingfull or participating for research and development, (6) grants and loans to support (a) regional development, (b) the development of specific industries, or (c) small business, (7) export financing, (8) loans and loan underwriting to support (a) exports, (b) specific sectors of a domestic economy, or (c) specific firms, (9) price supports, and (10) antitrust, and (11) related policies.

2J. W., Kendrick, Productivity: Concepts and Practices, 3rd ed. (New York: McGrawHill Book Company, 1990), 43.

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