Has productivity growth slowed in the U.S. and around the world, as is the conventional wisdom? Or is that just an illusion, caused by the difficulty of measuring the quality improvements (instead of quantity improvements) that constitute the bulk of productivity growth? In a provocative interview, Horace (“Woody”) Brock, an economist, strategist and consultant to many of the world’s leading institutional investors, puts his unique spin on questions like these.
Woody and I discussed issues that he raised in an article, “Rampant Confusion: Monetary policy, yield curve, bond yields,” disseminated by Portfolio Construction Forum (Sydney, Australia), August 10, 2017, (password-protected; free to join).
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