productivity
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The four clocks in this series have been running at roughly the same speed. Capital concentration, labor bifurcation, and the productivity trough are all happening simultaneously, which is what makes the current moment structurally distinct from previous technology transitions. But the fourth clock, sector restructuring, doesn’t run at a uniform speed across the economy. It…
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The Productivity Clock In 1987, economist Robert Solow made an observation that became one of the most quoted lines in technology economics: “You can see the computer age everywhere except in the productivity statistics.” It took roughly a decade for that to change. Computers had arrived. Organizations were using them. Productivity, at the macro level,…
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Part 2 of 2: The Labor Clock This is Part 2 of a two-part piece on the labor restructuring underway in the AI economy. Part 1 covered the bifurcation already visible in current data and the historical pattern of who captures productivity surpluses. This piece goes underneath that, to a structural problem that moves on…
nitin badjatia 