I am not an economist nor suitably qualified to offer an informed position and therefore, I merely ask a question in the hope that someone might shed some light on a dark subject.
Every time a government official puts out a statement regarding the country’s Productivity, it makes me wonder if this measurement is an accurate representation of how well a nation manages its resources…natural, capital, and human (intellectual capital).
This begs the question: Are we comparing apples with apples? Country A is a nation with a high productivity rate but exploits her people; have little regard for the environment; and the impact their actions have on global security… Country B is a nation that is working hard to influence and change social inequalities, protect the environment, is politically stable, is competitive in global trade and promotes global stability yet has a low productivity ratio.
Regardless of the number and how we get there, from a productivity point of view, the perception is that productivity is good, and unproductivity is bad.
Is it time we change the formula and look at productivity not as a single metric of Output/ Input but rather a combination of factors? Like businesses, some countries have established their niche in the global marketplace and others are working hard to find and develop theirs. Technology and the transferability of knowledge has made it easier to create these opportunities but at the same time, exponentially harder to protect intellectual property.
Ethical Productivity: Is there a university out there that might be interested to sponsor research into a new method of measuring a country, a company, and an individual’s productivity, taking many more factors into account?