Between 1948 and 1979, economic activity in the United States increased almost twice as
much as over the entire preceding course of American history. The traditional explanation of
this remarkable development emphasizes productivity growth. In the most sophisticated
study to date of the factors currently affecting economic growth, the authors of this book show
that capital formation is far more important, with the growth of labor resources and
productivity a distant second. Their conclusions rest on a far more detailed empirical base …

Contributions to Economic Analysis | Productivity and US Economic Growth | ScienceDirect.com
by Elsevier …