the PAP had done and said alot in 3 decades.
PAP had kept repeating the phase 'singapore needs to improve on productivity' when they ran out of ideas.
PAP said lack of productivity as an excuse to keep workers wages low [except for the top layer and themselves].
You hit the nail on the head. Productivity is the symptom not the root cause. Typical productivity is measured by output(revenue) vs. Headcounts. For revenue to increase significantly, disruptive technologies or highly innovative ideas need to be developed. By chanting productivity every day will not get you any increases and there is so much OT an employee can do. Even with OT maxed out, productivity increases will still be minimal.