Critical Issues in Transportation for 2024 and Beyond (2024) / Chapter Skim
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Building and Sustaining a Strong, Competitive Economy
Building and Sustaining a Strong, Competitive Economy
Pages 12-15
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From page 12... ...
Goods move from producers to consumers, most workers travel from home to workplaces, and consumers travel to purchase goods and services or pay to have goods delivered. As critical aspects of both production and consumption, transport's direct costs would ideally be minimized, and 12 | critical issues in transportation for 2024 and beyond
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From page 13... ...
FIGURE 5 For-hire, in-house, and household transportation services cost share of total Gross Domestic Product (GDP) (current dollars)
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From page 14... ...
.15 As shown in Figure 6, transportation's productivity trend is similar to the general slow growth in U.S. productivity overall.16,17 The slow growth in transportation productivity is not attributable to transportation labor productivity, which has been rising steadily since at least the 1990s for aviation and freight modes.18 The actual causes of the overall national slowdown in TFP growth have long been elusive, and the consequences of this slowdown are worrying for future prosperity.19 The combined measure of transportation TFP in Figure 6 masks considerable variation across freight modes since 1987 (see Figure 7)
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From page 15... ...
The large share of total freight moved by truck and rail and their declining growth in TFP help explain the slowdown in total transportation and warehousing TFP over the last decade shown in Figure 6. Possible explanations for these productivity trends vary and their estimated benefits and costs are important for guiding public policy.
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