Summer Slichter, Lamont University Professor of Economics, writing in the current issue of Reader's Digest, says that "productivity in the United States is growing faster now than it was a century ago" and "output per man hour is growing more than three times as fast."
He says that the reasons for the increase is that "competition has constantly become more intense." He also points to the "improvement in the management of industry" and industry's increasing use of science and technology.
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