Pros And Cons Labour Productivity
Labor Productivity Grows by Increasing Investments in People
What is Labor productivity: Labor productivity is defined by measurement of economic growth of a country. Labor productivity measures the amount of goods and services produced by one hour of labor. Specifically labor productivity measures the amount of real GDP produced by an hour of labor. Growing labor productivity depends on three main factors: investment and saving in physical capital, new technology and human capital.
In order to increase productivity, each worker must be able to produce more output. This is referred to as labor productivity growth. The only way for this to occur is through an in increase in the capital utilized in the production process. This increase can be in the form of either human capital or physical capital. People who are referred as labors is always a backbone for every product and without humans no work can be done with 100% perfection.
Is Labor productivity grows by increasing investments in people?
Pros:
1. Increasing investments on people will increase their level of involvement which in turn increases the output rate drastically.
2. When investments on people is higher the standard of every individual increases which will show a positive impact on the investor itself.
3. Higher level of investment on people for the purpose of education and training develops the country’s status in terms of economical.
4. Increasing investments on people will nourish and cultivate the quality of future more and in a advanced way
Cons:
Investments on people is good but at the same time it has a bad face which is like a slow poison.
1. Over investing on people during downturn leads to heavy loss to the investor and even leads to bankruptcy at times.
2. Investing more on people is stopping firms/governments to invest more on technology which makes the future better with great needs.
3. Every sector has certain needs. Investing blindly on all sectors more and equally is not at all
What is Labor productivity: Labor productivity is defined by measurement of economic growth of a country. Labor productivity measures the amount of goods and services produced by one hour of labor. Specifically labor productivity measures the amount of real GDP produced by an hour of labor. Growing labor productivity depends on three main factors: investment and saving in physical capital, new technology and human capital.
In order to increase productivity, each worker must be able to produce more output. This is referred to as labor productivity growth. The only way for this to occur is through an in increase in the capital utilized in the production process. This increase can be in the form of either human capital or physical capital. People who are referred as labors is always a backbone for every product and without humans no work can be done with 100% perfection.
Is Labor productivity grows by increasing investments in people?
Pros:
1. Increasing investments on people will increase their level of involvement which in turn increases the output rate drastically.
2. When investments on people is higher the standard of every individual increases which will show a positive impact on the investor itself.
3. Higher level of investment on people for the purpose of education and training develops the country’s status in terms of economical.
4. Increasing investments on people will nourish and cultivate the quality of future more and in a advanced way
Cons:
Investments on people is good but at the same time it has a bad face which is like a slow poison.
1. Over investing on people during downturn leads to heavy loss to the investor and even leads to bankruptcy at times.
2. Investing more on people is stopping firms/governments to invest more on technology which makes the future better with great needs.
3. Every sector has certain needs. Investing blindly on all sectors more and equally is not at all