This is a long post, but not epic.
A new story from the Associated Press argues that there has been a big productivity surge in the U.S., post-financial crisis. Paul Wiseman writes (my emphasis added):
The reason is U.S. workers have become so productive that it?s harder for anyone without a job to get one.
Companies are producing and profiting more than when the recession began, despite fewer workers. They?re hiring again, but not fast enough to replace most of the 7.5 million jobs lost since the recession began.
Measured in growth, the U.S. economy has outperformed those of Britain, France, Germany, Italy and Japan - every Group of 7 developed nation except Canada.
According to the conventional wisdom, as summarized by Wiseman, the U.S. has sailed through the crisis in better shape than our industrialized rivals. The conventional wisdom also says to the degree that we have a jobs
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