<p>Is there a specific Austrian definition in accordance to the concept of Labour Productivity?</p>

<hr>

<p>If Labour Productivity is too broad of a term, then I will qualify to be speaking about it in context of this <a href="https://www.youtube.com/watch?v=Np1xWfmRZm8" rel="nofollow">video</a> which speaks about Labour Productivity comparing Canada to the United States.</p>

<blockquote>
  <p>If Canada's Labour Productivity matched that of the United States
  between the years 1988 and 2008, how would our [Canadians] lives be different?</p>
  
  <p>Real GDP - $8,500 higher </p>
  
  <p>Personal Disposable Income - $7,500 higher</p>
  
  <p>Corporate Profits - 40% higher</p>
  
  <p>Federal Government Revenues - 31% higher</p>
</blockquote>

CC BY-SA 4.0
2020-04-08T17:47:44.973Z
Why would you expect Austrians to have a different definition of productivity? Productivity is how much work you get done within a certain time span. I do not expect you will find Austrians having a problem with this definition...
nondeterministic
CC BY-SA 4.0
2020-04-08T23:30:35.630Z
@nondeterministic The only reason I would have suspected otherwise, is because they have a subjective theory of value which is considered heterodox to most other economic schools of thought.
Anon
CC BY-SA 4.0
2020-04-10T08:01:21.290Z
Interesting. I thought Austrian value/cost theory (e.g., as put forth by Rothbard) reflected these days more or less the commonly accepted view on the subject, even in mainstream economics. And I assumed old Marxian cost theory is considered dead today.
nondeterministic
CC BY-SA 4.0
2020-04-10T22:21:35.653Z
@nondeterministic No, and its not a Marxian theory. Labour theory of value comes from Smith/Ricardo; The Marxians just interpret it as theft of excess labour, without deviating too much with the core theory that value is extracted from labour. From what I know, value is determined in most mainstream economics by units of "util" concepts, measuring utility. This hammer has 25 utils in it, while this screwdriver has 50. I could be wrong though.
Anon
<labor-economics><productivity><austrian>
How does Austrian Economics define Labour Productivity?
Anon
# How does Austrian Economics define Labour Productivity?

(Asked by: username_0 on 2015-10-16)

Is there a specific Austrian definition in accordance to the concept of Labour Productivity?

---

If Labour Productivity is too broad of a term, then I will qualify to be speaking about it in context of this [video](https://www.youtube.com/watch?v=Np1xWfmRZm8) which speaks about Labour Productivity comparing Canada to the United States.

> If Canada's Labour Productivity matched that of the United States
> between the years 1988 and 2008, how would our [Canadians] lives be different?
>
> Real GDP - $8,500 higher
>
> Personal Disposable Income - $7,500 higher
>
> Corporate Profits - 40% higher
>
> Federal Government Revenues - 31% higher

**Tags:** labor-economics, productivity, austrian
> **Comments:**
> **username_1**: Why would you expect Austrians to have a different definition of productivity? Productivity is how much work you get done within a certain time span. I do not expect you will find Austrians having a problem with this definition...  
> **username_0**: @nondeterministic The only reason I would have suspected otherwise, is because they have a subjective theory of value which is considered heterodox to most other economic schools of thought.  
> **username_1**: Interesting. I thought Austrian value/cost theory (e.g., as put forth by Rothbard) reflected these days more or less the commonly accepted view on the subject, even in mainstream economics. And I assumed old Marxian cost theory is considered dead today.  
> **username_0**: @nondeterministic No, and its not a Marxian theory. Labour theory of value comes from Smith/Ricardo; The Marxians just interpret it as theft of excess labour, without deviating too much with the core theory that value is extracted from labour. From what I know, value is determined in most mainstream economics by units of "util" concepts, measuring utility. This hammer has 25 utils in it, while this screwdriver has 50. I could be wrong though.  

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## 0 answers

