Elon Musk has significantly lowered his savings forecast from the Department of Government Efficiency from $2 trillion to $150 billion. This reduction highlights the potential productivity loss stemming from the government's recent ban on remote work, which affected nearly 60% of eligible federal employees. Research indicates that productivity has generally been higher in industries that support remote work. The ban could hinder efficiency, undermining the goals of the DOGE initiative, which aims to improve government productivity and operations.
"Banning telework was not about ending unusual practices - and it will likely come at a cost. Economists found that productivity growth was higher for industries with more remote workers."
"The federal government's work-from-home rate is about 10 percentage points higher than the private sector, despite some industries having higher rates."
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