Improving Productivity

An Important Tool in the Control of Inflation Gao ID: 108916 October 18, 1978

The role of productivity growth in the fight against inflation was reviewed. A Federal program to improve national productivity should be established and should include the following functions: (1) development of periodic needs assessments to determine the nature and extent of public and private sector productivity problems; (2) operation of a productivity clearinghouse; (3) promotion of an understanding of productivity issues; (4) setting up of industry productivity discussion sessions; (5) provision for joint administrative/legislative periodical assessments; (6) development of improved productivity measurements; (7) adoption of policies to stimulate additional investments in research and development by the private sector; (8) development of improved cost and benefit measurements of enacted regulations on productivity; (9) continuation of federal management-labor cooperative programs for upgrading the skills of the labor force; and (10) acceleration of its efforts to measure and improve productivity within the Federal government. The success of any national effort to improve productivity will depend on the support it receives from the President, Congress, and the private sector and the awareness it can develop throughout the Nation regarding the importance of productivity to our economy.

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