Max Fisher Applies the "It's Hard to Get Good Help" Story for China

It is remarkable how many people seem unfamiliar with the idea of productivity growth. It's a fairly simple concept. It means that workers can produce more output in each hour of work. The world economy has been seeing consistent productivity growth for more than two hundred years. That is why we have seen rising living standards. We live longer and better than our ancestors.

When we hear people running around saying that the robots will take all the jobs, that is a story of productivity grow...