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September 3rd, 2009 at 8:35 pm
As an Architect that has witnessed the transformation from pen and pencil to Autocadd produced documents I would challenge your " Truism 2 " . I cannot confirm that produtivity increases is actually the case . From a profitability and cost of production of point of view there has been little or no change from the 1960’s . What always seems to clutter the analysis is the the relation of public and private dept in calculating either GDP or productivity . Stripping out dept has produced some interesting observations with by some calculations we are returning $0.30 of GDP for every $ 1.00 of dept . When that is factored in the productivity advances claimed need to be questioned .