atans1

Don’t only blame PAP for low productivity

In Economy, Internet on 16/12/2017 at 6:10 am

Official productivity figures account for the cash value of output produced, divided by the number of workers. So the cybernuts and anti-PAP thinkers (Yes there are some) say that given the PAP’s love of FTs, shipping them in by the cattle truck load, the FT flood results in low productivity.

Maybe that’s part of the reason.

But maybe free lunches account for a large part of the problem of low productivity?

[N]owadays a lot of the valued output people like is offered free to users, delivered cheaply by a low-cost technology.

People use Google services, buy a great deal on Amazon and download entertainment. These free or low-cost services help depress reported productivity.

FT Columnist

 

  1. The proper perspective from this anti-PAP thinker is to make cross border comparison since the freebies are not for Singaporeans alone. It still don’t look good for Singapore. On the other hand, what you infer about FT is labour productivity in which the denominator is hours worked. Even so, labour productivity is only partial productivity – you need to bring in other costs factors. It can be argued that low productivity is due to more hours worked plus costs of getting materials to production.

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