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India: Productivity and Sustainable Consumption in OECD Countries: 1980-2005

Author

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  • Dean Baker
  • David Rosnick

Abstract

Productivity growth is the main long-run determinant of living standards. However, there are some distinctions between productivity growth as conventionally measured and the potential of the economy to raise living standards. Specifically, insofar as the share of depreciation in output increases, the rate of productivity growth will exceed the potential growth rate of living standards. The same will be the case if prices for investment goods decline relative to prices for consumption goods. This article adjusts for these factors to develop the concept of “sustainable consumption,” and compares trends in this variable with productivity growth in OECD countries for the 1980-2005 period.

Suggested Citation

  • Dean Baker & David Rosnick, 2007. "India: Productivity and Sustainable Consumption in OECD Countries: 1980-2005," International Productivity Monitor, Centre for the Study of Living Standards, vol. 15, pages 41-54, Fall.
    • Handle: RePEc:sls:ipmsls:v:15:y:2007:3
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    References listed on IDEAS

    as
    1. Roland Spant, 2003. "Why Net Domestic Product Should Replace Gross Domestic Product as a Measure of Economic Growth," International Productivity Monitor, Centre for the Study of Living Standards, vol. 7, pages 39-43, Fall.
    2. Dean Baker, 2007. "The Productivity to Paycheck Gap: What the Data Show," CEPR Reports and Issue Briefs 2007-11, Center for Economic and Policy Research (CEPR).
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    Cited by:

    1. David M. Williams, 2021. "Pay and Productivity in Canada: Growing Together, Only Slower than Ever," International Productivity Monitor, Centre for the Study of Living Standards, vol. 40, pages 3-26, Spring.

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    More about this item

    Keywords

    Productivity comparison; Sustainable consumption; living standards; OECD countries.;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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