Productivity rose in the second quarter at an annual rate of 5.7%,

yet unemployment remained stubbornly high. Businesses did not increase

spending on equipment, so their productivity gains didn’t come from

upgraded technology. Instead, I suspect, they squeezed more profits

out of the workforce the old-fashioned way. Middle-managers, afraid

of losing their own jobs, denied bathroom breaks to sales clerks. Benefits

packages were subtly watered down. More socks were reshelved by fewer

people at your neighborhood WalMart.

If the second quarter was a prelude to widespread economic growth that

will soon benefit everyone, fine. But if it represents the new version

of "growth," "productivity" and "recovery,"

who needs those things?