Tag Archives: productivity

Mind the gap

Higher productivity causes unemployment which can only be alleviated by new growth. When demand is racing along in the boom years the inescapable logic of this arithmetic is disguised. When the boom comes to a shuddering halt, it’s painfully clear. … Continue reading

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Booming Britain

Economic recovery is now widely accepted as well underway. Turns out there was no double dip and growth has been better than expected so far this year. The week-end papers are full of stories of recovery in the services sector, … Continue reading

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London calling

Major development in the city autonomy drive this week with a report from Tony Travers and team on the London Finance Commission, calling for the Treasury to hand £12bn of tax revenue to the GLA including the full suite of … Continue reading

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Rise of the Robots

Original digital musos Kraftwerk are in London this week and, as if to mark their powers of foresight, here comes news the US has added no net manufacturing jobs since the summer, even though manufacturing output growth is picking up … Continue reading

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Tools to hand not up to the job

The tools available to central bankers are ill suited to the enormity of the task at hand. So says bond market guru Mohammed El Erian. What are those tasks? De-leveraging indebted banks, households and some corporations – in the property … Continue reading

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A tale of two economies

As economists in the UK ponder why anaemic recovery is accompanied by rising private sector employment, in the US better growth is coming through the standard route of improved productivity. The FT reports that businesses funded by the American Export … Continue reading

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Shifting gear to the slow economy

By the end of 2013 we had no more than reached the point where GDP was  0.6% above its 2010 level and 3% below the 2008 peak. The trade deficit widened to £3.6bn in November from £2.5bn in October, despite … Continue reading

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21 hours

Most debate on the Left about routes out of the crisis have been to do with the conventional use of national government / state mechanisms – such as tax raids, more interventionist use of fiscal policy or heavier use of regulation … Continue reading

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Demand more not more demand

Last week’s major UK economic news was the publication of trade figures showing exports failing to drive the economy back towards growth. What caught my eye was exports falling in every one of the UK’s 10 biggest markets – so not a … Continue reading

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