Illogical Phrase

Hello people,

I have a question as to the statement in the following passage.

Please share your perspective.

Economic historian Joel Mokyr of Northwestern University belongs to a third camp, which asserts that the productivity paradox may be greatly exaggerated. According to Mokyr, this is because economists tend to focus too narrowly on the cost of production. While cost is certainly part of the equation, ICT allows goods and services of superior quality to be produced with the same labor and capital inputs as goods and services produced in the past, which must necessarily be regarded as a significant productivity improvement. Economic statistics for assessing productivity are accurate when measuring things like a factory's physical output, but, according to Mokyr, fall short when it comes to less tangible aspects like quality. Failure to include such intangibles, Mokyr argues, indicates that productivity statistics as currently calculated are unlikely to accurately reflect the state of the economy. [Source: STEP Grade 1 Test]

It seems to me that the phrase is logically confusing, because I would say "labor and capital inputs" and "goods and serviced produced" cannot be lumped in the same category. Or in the English language, would it possible to make this kind of expression while expecting the reader to read between the lines? I would say it may have to go like this:

"with the same labor and capital inputs as those necessary to produce goods and services with in the past"

This version of mine may also be incorrect, but please give me feedback.

Ray