At the end of the day, economic output is a function of input, and there is nothing more basic on that score than labor hours.
Yes, better tools, improved technology and more investment per worker can improve the productivity of labor hours employed. But, still, if you don’t do the time, you don’t get the dime.
Needless to say, in this age of perpetual Keynesian stimulus, nobody is paying attention to the time because of the delusion that fiscal free stuff and easy central bank money is the be all and end all of prosperity. So the chart below, which is never seen or remarked upon by the MSM financial chatterers, should be a wake-up call.