Innovative policies for sustaining productivity
Productivity growth is crucial for economic development, because all of its determinants affect standards of living. This is even more relevant for developing economies. The average worker in South Korea today, for example, needs to work only about 15 weeks to live at the annual income level of the average worker in 1967, which was made possible largely by technological progress.
Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.
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