Friday 28 May 2021

Explanations for low productivity growth: some history

As this paper nicely points out,  Shimaa Elkomy et al, "Energy and Productivity, A review of the literature" https://cusp.ac.uk/wp-content/uploads/pp-energy-report.pdf#ppem, the explanations seem to be rather the same: 


"For example, in 1966 Cambridge economist Nicholas Kaldor pointed to (and rejected) a number of common explanations for the UK’s declining productivity growth. Many of these reappear in the UK government’s recent industrial strategy (Table 2). Either we have made little progress in tackling these issues in the intervening half century, or we have missed a key element of productivity"

 


Kaldor, N. (1966) Causes of the Slow Rate of Economic Growth of the United Kingdom: An Inaugural Lecture. Great Britain: University of Cambridge Press

BEIS (2018) Industrial Strategy: Building a Britain Fit for the Future. Available at: 78 | CUSP WORKING PAPER No 23 https://assets.publishing.service.gov.uk/government/uploads/system/ uploads/attachment_data/file/664563/industrial-strategy-whitepaper-web-ready-version.pdf (Accessed: 29/04 2018)