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Question A study conducted byThe Conference Board found that “(t)he productivity level in the Euro Area, measured as output per hour in US dollars (after adjustment for differences in relative price levels using purchasing power parities), is just 76.7 percent of the US level in 2013, leaving an almost 25 percent gap between Europe and the United States”. This is consistent with the common view that American workers are (some of ) the most productive in the world (for example, on January 24, 2012, in his State of the Union Address, President Barak Obama stated “Our workers are the most productive on Earth, and if the playing field is level, I promise you– America will always win.”). What factors can explain U.S. labor productivity to be higher than most countries’ labor productivity?

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Question

A study conducted byThe Conference Board found that “(t)he productivity level in the Euro Area, measured as

output per hour in US dollars (after adjustment for differences in relative price levels using purchasing power parities), is just 76.7 percent of the US level in 2013, leaving an almost 25 percent gap between Europe and the United States”. This is consistent with the common view that American workers are (some of ) the most productive in the world (for example, on January 24, 2012, in his State of the Union Address, President Barak Obama stated “Our workers are the most productive on Earth, and if the playing field is level, I promise you– America will always win.”). What factors can explain U.S. labor productivity to be higher than most countries’ labor productivity?

 
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