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Tyler Cowen

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business2 years ago

"The Morale Crisis: Why Your Workers Are Doing Less, According to Economist Tyler Cowen"

Economist Tyler Cowen suggests that the current productivity slowdown in the US is due to a "serious crisis of morale" among workers, possibly caused by remote work. Despite high demand, productivity growth has been negative for the past five quarters. Cowen argues that if workers put in more effort, employers should pay them more, but instead, pay is being cut and effort is decreasing. Cowen believes that productivity will improve when people return to their desks, at least some of the time. However, Gregory Daco, chief economist at EY-Parthenon, argues that whether being in the office is more efficient depends on the sector and population employed.