Accounting for Growth, 1870-1940: Stephen Nicholas and Total Factor Productivity Measurements.

Presents the author's comments on the paper "Total Factor Productivity Growth and the Revision of Post-1870 British Economic History," by Stephen Nicholas, published in the 1982 issue of the journal "Economic History Review." Application of total factor productivity (TFP) calculations in analyzing British economic growth; Limitations of the standard geometric index of TFP analysis; Source of the measurement of technical progress in the class of geometric indices; Problems with Nicholas stylized calculations of the effects of introducing market imperfections.