Narayana Kocherlakota, Columnist

Let's Be Optimistic About Productivity

It's far too low, but policies to create more demand could help.

August 11, 2016 at 4:15 PM EDT

Narayana Kocherlakota is a Bloomberg Opinion columnist. He is a professor of economics at the University of Rochester and was president of the Federal Reserve Bank of Minneapolis from 2009 to 2015.

Invest and growth will come.
Photographer: Troy Harvey/Bloomberg

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The U.S. economy is suffering from a malaise that undermines its ability to boost living standards: Labor productivity, or the amount of goods and services people produce for each hour worked, isn't growing like it has in the past.

What it needs is a dose of optimism.

Before it’s here, it’s on the Bloomberg Terminal

LEARN MORE