When analysts and business commentators talk about economic productivity the understandable reaction of most people is to switch off.
As obscure, abstruse economic concepts go, productivity is right up there. No one really – not even economists – really understands why it goes up and down, but all are convinced it’s very important indeed.
But maybe we should all be taking more interest in the concept. Leaving aside debates about inequality and relative poverty, the real determinant of the prosperity of a population over time is probably its productivityThe UK’s comparatively poor productivity rate, which according to the latest figures has […]
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