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Debunking Economics - the podcast
Productivity through growth – why it makes sense to run the economy hot
Dec 31, 2018
34:34
Back in the forties Dutch economist Petrus Johannes Verdoorn argued that people became more productive when the economy was booming. Conversely, austerity hinders productivity. In this edition of the Debunking Economics Podcast Phil Dobbie asks Prof Steve Keen if there is any evidence to support Verdoorn’s assertion. They discuss the role of demand, fiscal stimulus and mechanisation in economic growth. And yes, growth does boost productivity. Listen to discover why.
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