Excerpt
Excerpt
Innovation and Productivity Growth. Dale Jorgenson, 2011, Paper. "The computer equipment manufacturing industry comprised only 0.3 percent of U.S. value added from 1960–2007, but generated 2.7 percent of economic growth and 25 percent of productivity growth. By comparison agriculture accounted for 1.8 percent of U.S. value added, but only 1.0 percent of economic growth during this period. This reflects the fact that agriculture has grown more slowly than the U.S. economy, while the computer industry has grown thirteen times as fast. However, agriculture accounted for fifteen percent of U.S. productivity growth, indicating..." Link