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> This is something that I've always found odd about how the actual value in the economy is tracked. Specifically, how the stock markets continue to rise despite the decline in productivity.

I'm confused. Are you talking about the economy or the stock market? I don't see why the two should be related. Productivity is (unit of output / unit of input). The value of the stock market is the sum of the discounted cash flows from the market's member firms.

EDIT: marginal investor's estimation of