it's not a misconception. Many productivity measurement metrics are very subjective, except for money paid for work.
Productivity is correlated to the job being done, but only under free market competition conditions, and that all participants have similar bargaining power. Otherwise, slavery is highly productive, but the monies paid is next to zero. But you can use the sold-price of the goods to determine productivity, instead of the wages. So money is still a good measurement, even in the degenerate case.
it's not a misconception. Many productivity measurement metrics are very subjective, except for money paid for work.
Productivity is correlated to the job being done, but only under free market competition conditions, and that all participants have similar bargaining power. Otherwise, slavery is highly productive, but the monies paid is next to zero. But you can use the sold-price of the goods to determine productivity, instead of the wages. So money is still a good measurement, even in the degenerate case.