palma, why has productivity growth stagnated (2010)

(4): imp of ideology to the arg [bizarre--b/c of lack of social cohesion in LA?]

(8-9): in LA growth decline in GDP growth absorbed by productivity, in EA by employment [raises question about welfare effects, etc.--Patnaik q.]

(12-13): productivity growth not sustained in LA, unlike other places ['asia'! the more undefined the bloc, the more absurd the explanation that's suggested]

(21, FN): LA taxation makes income distribution more unequal

(22-23): rapid productivity growth is linked to rates of investment [immediately, of course, the question becomes what explains this, in the case of LA]

(25): LA exhibits high employment elasticities--but the key fact being that this is all in services. in other words, the absorbtion effect of employment is absorbtion by a sector with little to no prouctivity growth [probably a better way to think about this sector--'faux' jobs]

(25): his screed against the N. Left, which has acceded to this hook, line, sinker

(28-29): critical--difference between LA and EA is not explained by exogenous demand. eplained instead by LA's exceptional flexibility. the informal sector acts like a 'reserve army lof labour', thus employment is almost a 'fake effect', again. LA has been hemorraging productive jobs.

(31): declining investment in LA

(32): back to a coordination problem. the market locks this pattern in place, no disciplining of the capitalist elite. productive, useful investment isn't forthcoming.

(33): two sectors in LA -- a modern primary sector, and informal sector

(33): loose labour markets disincentivize competition [?]

(36): imp--as prod increases, need for industrial policy increases exponentionally

(39-41): useful export-competitiveness graph (Figure 20)--LA stuck, endogenous mkt forces are not going to push the region upward. will stay stuck in comparative advantage

(42): the heterodox plea

(43): LA de-industrialization. LA and EA basically switch places. from three out of every four dollars in manufacturing value added, to one out of every six!

(44): this neglect of manufacturing is at the heart of LA's prod problems [so this is the key to the causal story]

(46): ISI was not really proper infant industry protection

(47): Asia always doing things right [no 'wrong' period, now? strange]

(48): speaking, principally, of policies to discipline the elite

(49): unfortunate--an 'ideological' argument about why this is stable.