Abstract
This paper presents a new economic growth theory, which enables us to compute labor productivity growth rate (r) as follows:
r = r1 - r2 ....(1)
r1 indicates labor productivity growth rate contributed by the factors which promote or increase the labor productivity such as capital and technology.
r2 indicates labor productivity growth rate reduced by factors which hinder or decrease labor productivity growth rate. Such factors include activities of redistribution of power and income.
Disciplines
Economics
Recommended Citation
Kim, Paul, "A New Labor Productivity Growth Rate Equation" (2015). Economics Papers and Presentations. 9.
https://scholarspace.jccc.edu/econpapers/9