Lowered expectations: Canadian Productivity

Pace Stats Can, annual labour productivity was up 1.4% for 2010 which was a level not seen since 2005. In the Canadian context that makes the latest release noteworthy. Sad really. Even more so given the bulk of the gains in the last quarter came from retail which means productivity was not driven by investment but rather by good old fashioned labour sweating or what Marx called absolute surplus vale extraction.

Canadian capitalism same as it ever was.

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