A Closer Look at the 1954–79 UK Labour Productivity Record
Chapter 4: US–UK Labour Productivity Comparisons
4.1 PRESENTATION OF THE ESTIMATES The two sets of results of the US–UK labour productivity comparisons are presented in Tables 4.1A–C and 4.1D–F. The estimates of Tables 4.1A–C are based on comparative net output per employee value ratios that have been converted into a common currency (sterling) by purchasing power parities (PPPs) appropriate for each individual industry. Tables 4.1B and 4.1C contain the UK and the US weighted productivity indices, respectively. Table 4.1A presents the geometric means (Fisher indices) of the US and the UK weighted estimates for each industry and year of comparison. The Fisher indices are the ﬁnal summary of my US–UK productivity comparisons. The estimates of Tables 4.1D–F are comparative gross output per employee value ratios converted into a common currency by the same PPPs that have been used for their net output counterparts. The Fisher, the UK weighted and the US weighted productivity indices are shown in Tables 4.1D, 4.1E and 4.1F respectively. The gross output estimates will serve as a check on the inferences drawn from my main net output results. The selection of the years of comparison was determined by the availability or otherwise of US and UK Census of Production data.1 For most industries the years of comparison were 1954, 1963, 1967/682 and 1977. In none of these years was economic activity at its peak in either country. In the case of the 1963, 1967/68 and 1977 comparisons the two countries were at broadly comparable stages of...
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