Category Archive: 20. Nations

Feb 17

Happiness beats GDP hands down

Economist Ed Conway claims in The Times that “GDP is actually pretty good at measuring the total amount of income generated in Britain” His main point is that: Every politician from right to left obsesses about income above all other measures of progress Yet income comes surprisingly far down the list of what really matters …

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Feb 17

Much innovation not reflected in statistics

Susan Athey, ex Microsoft and now Expedia and winner of a prestigious medal for being the best US technology economist, was interviewed by journalist Ana Fuentes The following are extracts from her article: Q. Global growth, now running at 3.5%, might be a lot higher if we took into account the whole contribution from digitalisation …

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Nov 28

How does Germany beat UK at productivity?

Unite, a UK trade union, commissioned a study to establish ‘the most significant reasons for Germany’s high productivity rate’ when compared to the UK The results were: Reason 1 – Skills: Germany has a highly skilled workforce, which their government has invested a lot in: More than 80% have received formal vocational training or possess …

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Nov 24

Better ways to boost UK productivity?

Sam Dumitriu of the Adam Smith Institute commented on UK Chancellor Philip Hammond’s budget and the OBR’s prediction that UK growth will be a sluggish 1.5% or lower for the next five years whilst the USA is growing at twice that rate Hammond has offered support to boost R&D spending and sort out the housing crisis …

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Nov 24

Brexit a fillip for the UK

The EU was originally set up after WW2 for defence and security reasons – to deter a WW 3 following the ravages of the first two wars Since then, it has steadily grown from the original six founder nations (Germany, France, Italy, Belgium, Netherlands and Luxembourg) to the current 28, including the UK Poor European …

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Nov 23

Government action for big productivity improvements

Words are all very well but good measures leading to worthwhile actions matter most to people and nations And, to boost national productivity, governments must look to: Boost their private sectors by helping them produce the profits which pay for everyone’s SoL (Standard of Living) and underpin their QoL (Quality of Life) Ensure all public …

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Nov 22

BoE powerless in UK productivity crisis

Tim Wallace in the Daily Telegraph reports Mark Carney, Governor of the BoE (Bank of England) saying: “Britain’s economy has a new, lower speed limit” Growth can only get to even modest levels before inflation takes off whereupon “we must ease our foot off the accelerator” Ben Broadbent, one of Carney’s deputies, claims: “Productivity growth has …

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Nov 22

Investors need to be ‘patient’, not greedy

In an article by Dr Paul Benneworth, Senior Researcher at the Center for Higher Education Policy Studies, University of Twente in the Netherlands claims that: “German companies, often envied by the UK, take a long-term view and plough the bulk of their surpluses into investment” Their workers also accept wage moderation because they see that …

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Oct 30

Free markets a ‘blatant failure’

Jacinda Arden, new Prime Minister of New Zealand and, at 37, the world’s youngest female leader, recently claimed that free markets are a ‘blatant failure’ In future, economic performance should not be measured by GDP growth and unemployment but by whether people’s lives ‘offered enjoyment and meaning’ “We need to make sure we are looking …

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Oct 19

Indigo Prize – How to measure 21c GDP

The INDIGO PRIZE is awarded for the best answers to: “How would you design a new economic measure for global economies that fully acknowledges not only social and economic factors but the impact of creativity, entrepreneurship and digital skills? How should your new measure be used to improve the way we measure GDP in official statistics?” …

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