The Best Path to Prosperity?
Between 1970 and 2000, GDP per person rose by 64% in the United States and by 60% in France. In America, this came about because productivity per worker rose by 38% and hours worked per worker rose by 26%.
In France, it came about because productivity rose by 83% while hours worked fell by 23%.
Which led me to think: isn’t GDP/hours-worked a better measure of “the good life” than GDP/capita? You can have stunning GDP/capita if everyone works all the time. (Hey: what country does that make me think of?)
Which led me to dig up the excellent OECD data sets on labor productivity here. (Not to worry, it’s not XLS or PDF, just spiffy HTML/CSS; Check ’em out—excellent interactive spreadsheets with pop-up menus and such.)
About which—if you get back here—you’ll be hearing a lot more.
For now, here are the 2006 numbers (dollars converted using purchasing power parity).
|$/worker hour||Relative to US (100)|
|Euro-zone (excluding Denmark, Sweden and
|OECD-Europe (excluding Turkey)||40||79|
|EU19 (EU members that are also OECD