Season 1 · Episode 359
Productivity gains in Britain – a vain hope?
The UK Chancellor and Bank of England Governor both want to see productivity improvements. They seem to think people can just work harder.
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
July 12, 202334m 32s
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Show Notes
The UK Chancellor and the Bank of England Governor have called for increases in productivity as a way of helping to brig down inflation. So, not only should workers expect wages to fall in real terms, people should also be doing more per hour worked. Are they dreaming? This week, Steve Keen says you can’t increase output without increasing investment in technology and machinery, something the Chancellor is less keen to do. So long as the UK is investment starved, you’ll never see a rise in productivity.
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