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The Case of the Missing Productivity: A Mystery
Business has been investing heavily in all forms of information technology (IT)—computers and related equipment, networking—in order to increase efficiency. Yet the official data on productivity continue to show relatively poor performance gains. An apparent contradiction continues to bedevil the American economy.
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Low Inflation and Low Unemployment: How Can it Be?
The situation the United States currently enjoys—low unemployment, low inflation, and rapid growth—has left economists struggling for an explanation in light of its apparent incongruity with the tenets of two predominant economic theories of the past 40 years, the Phillips curve and the “natural rate of unemployment.”
