Category Archive: 20. Nations

Sep 22

Trade Unions vote for Brexit

Some Trade Unions are beginning to realise the benefit of being free of the constraints placed upon the UK by the EU For example, the recent takeover of Opel/ Vauxhall by the French company PSA once would have been judged ‘a disaster’ because of expected closures and job losses: Now, the local Labour MP, Kelvin …

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Sep 02

Regional development is vital

Several top business leaders are now pushing for government development of the regions as the best way to get UK productivity out of the current doldrums, back on track and closing the gap with the rest of the G7 In particular, they focus on the need to greatly improve public transport within, not between, those …

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Aug 06

MGI assess the productivity puzzle

McKinsey & Co, in particular the MGI (McKinsey Global Institute), opened their recent ‘discussion paper’ on the productivity puzzle afflicting the USA (and other developed economies) by stating: “Now, as low birth rates slow the expansion of the labour force, increasing productivity, the output we get from every hour worked, is more crucial than ever …

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Jul 31

Old measures hide new productivity?

Nowadays, the constant media refrain is: “G7 productivity growth has slowed right down – living standards will fall – inequality will rise – it’s a puzzle why” Some experts say we couldn’t keep on growing at 2% plus per annum – we’re in an era of ‘secular stagnation’ according to Larry Summers, Harvard economics professor …

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Jul 17

Despair knocks productivity

Janet Yellen, Chair of the US Federal Reserve, considers President Donald Trump’s  growth target of 3% per annum over the next five years to be “quite challenging” At present, the rate slumbers at a mere 0.5%, having been around 2% over the past decade She holds that a major factor holding down productivity growth is …

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Jun 29

Hi/ Lo productivity for Hi/ Lo wages

It’s a nation’s mix of sectors that largely determines its overall productivity and prosperity levels And some sectors are much more productive than others For example, the UK has some highly productive sectors such as manufacturing which are continually improving their (labour) productivity levels by investing in latest technology such as robotics, automation, IoTand AI …

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Jun 22

Political parties’ productivity plans

Productivity is the biggest peacetime issue facing all UK political parties – annual improvements are vital if living standards and average earnings are to be raised – so what did their recent manifestos say about it? Conservative Manifesto: Introduce a National Productivity Investment Fund – to spend £23bn by the end of the next parliament …

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May 15

National productivity positions built on sand

On Friday, 12 May, 2017, I read an article about Chinese productivity posted by Bloomberg journalist Michael Schuman and sent him the following email: Michael, I read your article about Chinese productivity with great interest The first step in any major productivity improvement drive is indeed to establish the current position – where are you now? Most …

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Jan 29

Elephants in the productivity room

The great financial journalist Martin Wolf of the FT recently opined about the current state of UK productivity – disappointingly, his words offered no new insights and were simply a regurgitation of current groupthink. He kicked off with the now well-worn cliche from Paul Krugman about productivity being ‘almost everything’ – and then trotted out a …

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A MIRACLE solution to the productivity puzzle

The US is worried about the puzzle of their low GDP and productivity growth – likewise the UK and other G7 nations – all are suffering in much the same way, which must offer a clue as to what’s going on Explanations offered by a variety of experts include: M = Mismeasurement of GDP, a …

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