The Nowhere Office The Productivity Puzzle
Feb 11, 2025
Diane Coyle, a renowned economist and Bennett Professor at the University of Cambridge, dives into the complexities of measuring productivity and the limitations of traditional metrics like GDP. Cultural anthropologist Melissa Fisher explores how workplace culture evolves, emphasizing the human habits shaping our work experiences. Phil Kirschner, a workplace consultant, discusses reimagining office environments for a post-pandemic world, advocating for a human-centric approach that fosters collaboration and adaptability. Together, they tackle the future of work in an ever-changing landscape.
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GDP Is An Incomplete Measure
- GDP is an invented measure that includes some activities and omits others, so it cannot fully capture well-being.
- Diane Coyle argues we must assess progress beyond GDP using broader quality-of-life indicators.
Intangibles Drive Modern Value
- Intangible assets like open-source software and brand value are increasingly important but poorly measured.
- Coyle warns that failing to capture intangibles distorts our understanding of company value and productivity.
The Productivity Puzzle Explained
- Productivity measures output per input but is hard to calculate because inputs include hours, skills, capital and intangibles.
- Coyle highlights the post-2007 productivity puzzle and multiple possible causes including measurement gaps and economic shocks.
