Productivity and the High Cost of Resources

@inproceedings{Johnson1982ProductivityAT,
  title={Productivity and the High Cost of Resources},
  author={Robert Russell Johnson},
  year={1982}
}
Firms in mature, resource-intensive industries are facing a productivity dilemma. Shrinking profit margins are exerting intense pressure on management to increase productivity (output per worker) but they are saddled with old factories which are equipped with yesterday's capital. The solution seems obvious, but in an environment of slow market growth and expensive, scarce investment capital there is little prospect for recapitalization. Attempts to increase productivity by modifying methods of… CONTINUE READING