Class No.2: LaRouche’s Physical Economic Metrics, Part I: Productive Powers of Labor vs Jobs
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Welcome to Part Two of our economic series examining Lyndon LaRouche's economic forecasting method, lead by three members of his Scientific Research Team. This week—How do you measure the growth and progress in an economy? Textbook economics notions of GDP, market analysis, and monetary theory fail to provide a measure of true progress or decline. Economics is fundamentally a physical process, and we start by understanding the role of technologies and machinery in improving the productive powers of labor.