• Gerd Weyer
    • Aug 17, 2020
    • 1 min read

Increasing Productivity

The opportunity to pursue happiness increases with time for leisure and the capacity to purchase goods and services. The only way to simultaneously increase leisure and the capacity to purchase is by increasing productivity. Productivity increases when the time it takes to locate, extract and transform natural resources into goods and services decreases. For example, productivity increases when the time that it takes to produce a car declines from 100 to 90 hours, and people can spend the saved time at leisure, the production of more goods and services, or a combination thereof.

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