In a recent paper, Bloom et al. (2020) find evidence for a substantial decline in research productivity in the U ….S. economy during the last 40 years. In this paper, we replicate their findings for China and Germany, using detailed firm …

knowledge sector is bounded, as productivity increases, the economy moves from a Solovian zone where wages increase with … productivity, to a Marxian zone where they paradoxically decline with productivity. This is because as consumption of a given good … more unevenly distributed than productivity, technical progress always increases inequality. Redistribution from profits to …