2.3. Total factor productivity
TFP has been explained in terms of a wide range of factors including technology change, the accumulation of human capital and social infrastructure and learning-by-doing. The 20th century global economic growth success is attributed to geometric growth in TFP. Under the premise that AFP exists and economic growth can be explicitly formulated, productivity factors related to AFP are imbedded in the formulation of input quantities of AFP, thereby eliminating the need for TFP.