The beginning of the slowdown in productivity growth in the West. Its attribution to slowing technical change.

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The productivity growth in the west began in the 18th century. The productivity growth became adversely affected due to the weakened investment. The issue is not attributable to slowing technical change directly. It is affected by the reduced creativity and innovation which then leads to slowed technical change. The Neo-classical theory of growth suggests that capital increases as well as the marginal product of labor based on technological advancement.

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