Maddison's 1870-1979 data are analyzed, showing the historically unprecedented growth
in productivity, gross domestic product per capita and exports and the remarkable
convergence of productivities of industrialized market economies, with convergence
apparently shared by planned economies but not less developed countries. Productivity
lag's relation to "deindustrialization," unemployment, and balance of payments is
examined. The data are shown to suggest a tempered view of the slowdown in U.S. productivity
growth and its lag behind other countries.