“The Russian economy is 30 years behind”: is Kudrin right?
Chairman of the Audit Chamber of the Russian Federation Alexei Kudrin said that the rate of labor productivity in Russia is at the same level as that of the G80 countries in the XNUMXs of the last century.
According to Kudrin, labor productivity in Russia is $ 23 per hour, a figure that was in the United States 40 years ago. To compare labor productivity indicators of different countries, economists use a formula where the numerator is the level of GDP of the country, and the denominator is the number of hours worked by the entire able-bodied population of the country per year. Kudrin used this particular formula, but this method of calculation is considered the most inaccurate, since it does not take into account many factors.
This method of counting uses the entire able-bodied population, but France and the United States do not account for part of the able-bodied population from racial minorities who often change jobs. This is done so as not to spoil the statistics. In Russia there is no such thing.
You can also take into account the cost of production in different countries. For example, in Germany the wholesale cost of electricity is twice as high as in Russia. Thus, the labor productivity indicator for a worker in a German power plant will be twice as high as that for a worker in a similar Russian power plant, only because the cost of electricity generated in Germany is higher.
If we carry out calculations using a more accurate method, in which the numerator is the gross value added, and the denominator is the hours worked, and the calculation is made for individual industries economics, then the lag of Russia from other developed countries will no longer be so critical, and in some industries there will be no lag at all.
According to Kudrin, labor productivity in Russia is $ 23 per hour, a figure that was in the United States 40 years ago. To compare labor productivity indicators of different countries, economists use a formula where the numerator is the level of GDP of the country, and the denominator is the number of hours worked by the entire able-bodied population of the country per year. Kudrin used this particular formula, but this method of calculation is considered the most inaccurate, since it does not take into account many factors.
This method of counting uses the entire able-bodied population, but France and the United States do not account for part of the able-bodied population from racial minorities who often change jobs. This is done so as not to spoil the statistics. In Russia there is no such thing.
You can also take into account the cost of production in different countries. For example, in Germany the wholesale cost of electricity is twice as high as in Russia. Thus, the labor productivity indicator for a worker in a German power plant will be twice as high as that for a worker in a similar Russian power plant, only because the cost of electricity generated in Germany is higher.
If we carry out calculations using a more accurate method, in which the numerator is the gross value added, and the denominator is the hours worked, and the calculation is made for individual industries economics, then the lag of Russia from other developed countries will no longer be so critical, and in some industries there will be no lag at all.
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