Growth, Productivity And Compensation In The United States And In The Other G-7 Countries

摘要

The growth of labor productivity is crucial to raise in individuals' real incomes and standard of living, and many public policies are directed at stimulating it in most countries. The growth of labor productivity can vary a great deal over time and across nations, and in how much of it goes to increase workers' incomes as opposed to firms' profits. In this paper, I will present data on the increase in labor productivity in the United States and in other G-7 countries, and show how much of it goes into individual compensation, and how and why it varies across the G-7 countries.