Productivity since 1870: Almost Catching Up is Not Enough

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Transcript Productivity since 1870: Almost Catching Up is Not Enough

Productivity since 1870:
Almost Catching Up is Not Enough
100
United States
10
Europe - 15
1
1870
1880
1890
1900
1910
1920
1930
1940
1950
1960
1970
1980
1990
2000
Productivity Post-1960:
The Ratio Reaches 96.9% in 1995
45
40
35
United States
30
Europe - 15
25
20
15
10
5
0
1960
1965
1970
1975
1980
1985
1990
1995
2000
133 Years: Falling Behind, Catching Up, Now Falling Behind
Annual Growth Rate of GDP per Hour,
EU minus US, 1870-2003
2.50
2.00
1.50
1.00
0.50
0.00
-0.50
-1.00
-1.50
1870-1913
1913-1950
1950-1973
1973-1995
1995-2003
Output per Capita, Europe/US:
Stagnation Since 1970
110
100
Output per hour
90
80
Output per capita
70
60
50
40
1960
1965
1970
1975
1980
1985
1990
1995
2000
Ratios of Ratios: The Real Clue as
to What is Going On
130
120
110
Employee to population ratio
100
Hours per employee
90
80
Output per capita to
output per hour ratio
70
60
1960
1965
1970
1975
1980
1985
1990
1995
2000
A Close-up of Hours per Employee
after 1960
2200
2100
2000
United States
1900
Europe - 15
1800
1700
1600
1500
1400
1960
1965
1970
1975
1980
1985
1990
1995
2000
Employment per Capita: U.S.
Women and Teens
Marched Off to Work 1965-1990
55%
50%
United States
45%
40%
Europe - 15
35%
30%
1960
1965
1970
1975
1980
1985
1990
1995
2000