A second characteristic of the information economy is that it is highly productive. William Nordhaus of the 9L0-509 US National Bureau of Economic Research states that:
Productivity growth in the new economy sectors has made a significant contribution to economy-wide productivity growth. In the business sector (between 1999 and 2001), labor-productivity growth Testking 9L0-402 excluding the new economy sectors was 2.24 percent per year as compared to 3.19 percent per year including the new economy. Of the 1.82 percentage point increase in labor-productivity growth in the last three years relative to the earlier period, 0.65 percentage point was due to the new economy 9L0-509 sectors. The contribution of the new economy was slightly larger for well-measured output because that sector is smaller than the business economy.
Some critics argue that there is no relationship between profitability and investment in ICT. Castells looks into Pass4sure 9L0-402 the history of productivity growth in advanced market economies and observes a downward trend of productivity growth starting roughly around the time that the information technology revolution was taking shape in the early 1970s.
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