The Best Investment Writing Volume 5: Andrew Patterson, Vanguard - The Idea Multiplier: An acceleration in innovation is coming
The Meb Faber Show - Better Investing
00:00
Productivity Matters
A recent surge in the idea multiplier portends a productivity increase to one point two % annually over the next five years, double the rate of the past two decades. Such growth should translate into higher wages, higher profits and higher living standards productivity. Differences in productivity contribute significantly to differences in country standard of living. More productive countries are able use their aggregate imports, such as physical and human capital more efficiently. This facilitates faster income growth for businesses and for households.
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