Tuesday, February 1, 2011

Dollars Are Only One Measure Of Productivity (NZ)

It's not gross domestic product per worker, it's the monetary value of product per worker, which is quite a different thing from product per worker. On product per worker I have no doubt New Zealand would be very much the same as Australia.

By measuring everything in dollars we fall down on the things that are actually important to us, like making a meaningful contribution and finding fulfilment in what we do.

New Zealand's natural products have not done well (in dollars) because other countries have subsidised a glut on the market. Now the market has grown (in world population and affluence) and even those extensive subsidies are not enough to encourage supply great enough to keep prices down.


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