Posted by: Michael Mandel on February 02
Here’s a question for you all:
Company A has an R&D staff of 1000 engineers designing innovative new products for the future. In a fit of cost-cutting fervor, the management of company A lays off 500 of those engineers, who then find new work building homes (5 bedroom McMansions, mostly).
Question: Does U.S. labor productivity go up or down?
Answer: See my story in the new issue of BW, on the website tonight.
(Think of this as a movie trailer).
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.