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05-03-2013, 09:23 AM
(This post was last modified: 05-03-2013, 09:23 AM by specuvestor.)
This is the problem that I've been alluding: When you force GDP growth by perspiration ie quantity, your quality ie productivity may lag, for various reasons like bottlenecks and lack of govt incentives to improve. BTW it is not because of slower economic growth... it is precisely due to the obsession with economic growth
http://www.channelnewsasia.com/stories/s...60/1/.html
SINGAPORE: Labour productivity fell by 2.6 per cent in 2012, a reversal from the growth of 1.3 per cent the previous year.
The Economic Survey of Singapore 2012, released by the Ministry of Trade and Industry (MTI) on Friday, also showed an increase in total employment.
Singapore's productivity drive has yet to show results. Labour productivity has been falling continuously.
In the fourth quarter of last year, productivity fell by 2.5 per cent, the fifth consecutive quarter of decline.
The drop was broad-based, with manufacturing, construction and services sectors all experiencing negative growth.
The information and communications sector was the only industry to record positive productivity growth.
MTI attributed the declines in productivity numbers to the country's slower economic growth over the past two years.
http://www.channelnewsasia.com/stories/s...60/1/.html
SINGAPORE: Labour productivity fell by 2.6 per cent in 2012, a reversal from the growth of 1.3 per cent the previous year.
The Economic Survey of Singapore 2012, released by the Ministry of Trade and Industry (MTI) on Friday, also showed an increase in total employment.
Singapore's productivity drive has yet to show results. Labour productivity has been falling continuously.
In the fourth quarter of last year, productivity fell by 2.5 per cent, the fifth consecutive quarter of decline.
The drop was broad-based, with manufacturing, construction and services sectors all experiencing negative growth.
The information and communications sector was the only industry to record positive productivity growth.
MTI attributed the declines in productivity numbers to the country's slower economic growth over the past two years.
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Think Asset-Business-Structure (ABS)
Think Asset-Business-Structure (ABS)