Tag Archive: Action

Jun 28

AI the next GPT?

June, 2017 PWC – Price Waterhouse Coopers, the management consultancy – claim global GDP will be some 14% higher in 2030 as a result of AI – Artificial Intelligence This is equivalent to an extra $15.7trn The greatest gains will be realised in China and North America Anand Rao, global leader of AI at PWC …

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Jun 22

Political Parties’ Productivity Plans

June, 2017 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 …

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Apr 15

Passports for Productivity Improvement?

April, 2017 Some say the ‘Productivity Puzzle’ is the result of a storm of problems affecting both supply and demand in G7 developed nations viz: Supply: In the past, major technological advances (aka Schumpeter discontinuities) enabled quantum leaps in productivity levels – G7 nations would all adopt them and improve at about the same rate – now, …

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Mar 23

Pareto for Productivity

March, 2017 Pareto, a 19th century Italian economist, spotted that “80% of effects arise from only 20% of possible causes” – apply this rule to national productivity levels and just the top quintile of companies determine whether improvements are made – and it has been ever thus In other words, the great majority of companies …

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Five steps for big improvements

December, 2016 Managers, whatever their level, need to take just five basic steps to make big productivity improvements – click on the link below for outline details http://www.productivityknowhow.com/?page_id=378 BUT: 1. Corporate plans – If they exist, they’re not seen or understood by most managers 2. Performance measures – Most lack 80% of the measures they need …

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It’s the rest, not the best, that’s the problem

September, 2016 Brooking’s Martin Neil Baily and Nicholas Montalbano summarised the global productivity puzzle recently “The most promising sign for future growth is that the most productive firms are growing faster than the rest – the frontier is still moving out – but the diffusion of best practices is not pulling the rest of industry …

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Action needed post Brexit

August, 2016 In the Guardian, Katie Allen  has just recommended SEVEN ways Prime Minister Theresa May could ‘lift the UK economy’s post-Brexit’ blues: Tax cuts – esp VAT More infrastructure spending Delaying the planned apprenticeship levy Boosting productivity via investment in innovation, education and infrastructure Reduced planned rises to the national living wage Helicopter money …

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Productivity and Compensation growing together

July, 2013 Some measured sense from James Sherk of the Heritage Organisation President John F. Kennedy believed that “a rising tide lifts all boats” but many question if that remains true today – they point to data showing that productivity has risen sharply since the 1970s whilst wages have stagnated – they conclude that productivity-driven …

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Bertrand Russell v Adam Smith – Productivity and pins

June, 2013 Russell wrote the following many years ago – in response to Adam Smith’s piece about productivity and a pin manufacturer                                             In praise of idleness Suppose that, at a given moment, a certain number of people are engaged in the manufacture of pins – they make as many pins as the world needs, …

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Stiglitz questions labour saving innovation

June, 2013 Many of the innovations that led to productivity increases in manufacturing ended up playing a role in the economic downturn that began in 2008, says Nobel laureate economist Joseph Stiglitz For a long time, he said, many countries have been focusing disproportionately on innovation in the wrong areas, such as saving labour “We …

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