Surprisingly Strong Productivity Growth in Unexpected Places

I’ve been spending this week at the UChicago Price Theory camp, which I’d definitely recommend to other graduate students, and wanted to share the following graph from Kevin Murphy. He pointed out that we have seen amazing productivity growth in many sectors and pointed to the trends in amount of milk we can extract per cow year as an example – the graph speaks for itself.

cows

 

 

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About ozidar

Graduate student at UC Berkeley, studying public finance & labor economics. https://sites.google.com/site/omzidar/
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2 Responses to Surprisingly Strong Productivity Growth in Unexpected Places

  1. Pingback: Economist’s View: Links for 06-26-2013 | Fifth Estate

  2. coobek says:

    Now the question is why. Is it that US is achieving Scandic efficiency in dairy milking. Or there are dark issues behind like Raj Patel intensive farming critique video showing the industralization of Beef production. I wouldn’t like to eat that meat mind you. Not to mention it was achieved with such energy (oil) intesity that long term it was unsustainable.

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