In the past few hundred years for which we have some rough productivity approximations, human ingenuity, even at its best, appears to have rarely produced annual productivity growth approaching double-digit rates for any protracted period of time.
Bank of Japan’s March report of recent economic and financial developments1  Bank of Japan, Communication, 10 March 2000. *  *  *  2  The Bank’s view  Japan’s economy has recently started to improve. The economic environment surrounding private demand continues to improve, as seen in the increase in corporate profits.