Economics

(1) New Working Paper: the fundamental driver of growth in modern economies, Total Factor Productivity (TFP), is linear, not exponential. This is a paper I did not expect to write...

Output per worker increased by almost 300% between 1950 and 2018 in the U.S. The standard American workweek, meanwhile, has remained unchanged, at about 40 hours.

This paradox is especially notable in the U.S., where the average work year is 1,767 hours compared with 1,354 in Germany, a difference largely due to Americans’ lack of vacation time.

Some

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