Saturday, 26 September 2020

Productivity in cars

 Numbers speak loudly. 


From Russ Robert's interview with Enrico Moretti: 


Russ: The statistic you quote that in the 1950s the average worker at General Motors (GM) could make 7 cars in a year, and now they make 28--that's an unbelievable transformation. 

Moretti: That's right. It means that for the same amount of cars sold, now GM needs 70% fewer workers.