investment (in amenable sectors) begets productivity as much as productivity begets new investment. cf @chrisdillow.bsky.social stumblingandmumbling.typepad.com/stumbling_an...
On intensive vs extensive growth
Link Preview: On intensive vs extensive growth: There might be more to be said for the government's approach to raising economic growth than we think. To see what I mean, let's first see the criticism of its approach. This rests upon the distinctio...