A NOTE on PORODUCTIVITY

DECLINE IN GROWTH

1.Rise in energy prices caused decline growth.
2. Labour productivity first increased then decreased.
3. Innovations and technology helped in growth.
4.Freeing women from household chores and engaging them in economic activities added more value to growth.
5. More engagement of labour force  on social media spoils work time. This adds nothing to GDP. But is it true?
6. Adding more capital without increasing labour force , i.e. increasing capital per labour brings down the productivity and ultimately brings down the growth and this is called law of diminishing return. For example when more machines are included for the same no of workers initially workers productivity increases but after a point of certain addition of machines the workers find it more difficult to enhance their productivity and any further addition of capital in form of new machines for the same no workers , their productivity and consequently growth diminishes.
7.Better and efficient use of technology and resource management results in acceleration in the rate of growth.
8.Labour , if used to their full potential growth increases. 
9.When poor countries adopt technology , they are more enabled for better use of their potential.
10. World is not growing  as fast as it was earlier
    A. Rich countries are now registering stagnant growth.
   B.Poor countries are not growing faster despite the availability of the required tools e.g. capital, labour, technology, ideas etc which were earlier used by the today's rich countries to register richness. 
      By 1970s growth slowed down.
××××××××××××××××××××

Why could poor countries not grow faster despite the availability of capital , technology, and innovation in the world and labour in the domestic setting?

1. Lack of awareness of new ideas.
2. Lack of environment for birth of new ideas.
3.Lack of educated and informed workers.

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