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Stuart Elliot
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How does productivity get calculated for industries whose focus is to increase reserves (mining or oil & gas)? I understand widgets per workhour, I can even understand design engineering hours per piece of new equipment, but if nothing is "produced" what is productivity? I am no economist (nor did I stay at a Holiday Inn Express last night :-}) but the shape of our economy must surely affect the way its metrics are calculated.
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Aug 1, 2011