Autori: Tronti, Leonello, D'Elia, Enrico
Titolo: Leaning into TFP
Periodico: Economia e lavoro
Anno: 2022 - Fascicolo: 1 - Pagina iniziale: 25 - Pagina finale: 34

Growth policies, including the European recovery facilities, aim at enhancing total factor productivity (TFP), which, in the neoclassical theoretical framework, is the sole source of overall output growth in addition to that mechanicall resulting from increasing labour and capital inputs. Nevertheless, few algebraic manipulations show that TFP depends on income distribution and market power. Thus, suggestive as it may be, it is only an imperfect measure of productivity; and boosting its supposed determinants mentioned in the literature, so to accelerate economic growth, can be misleading. Suitable income and industrial policies are necessary instead




SICI: 0012-978X(2022)1<25:LIT>2.0.ZU;2-G
Testo completo: https://www.rivisteweb.it/download/article/10.7384/105052
Testo completo alternativo: https://www.rivisteweb.it/doi/10.7384/105052

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