Mr Bearbull 

Pay and productivity

Mr Bearbull

Mr Bearbull
Pay and productivity

Economists, commentators and people like Bearbull spend much time wandering around the maze that’s called ‘the productivity puzzle’. They do so because they can’t find their way out, or – less metaphorically – because they can’t explain the lack of productivity growth that has afflicted the developed world since the financial crisis of 2008. It’s a puzzle because productivity rose inexorably for decades from the 1950s; so much so that its behaviour became a given – productivity would rise because that’s what it did. Then suddenly – and without clear reasons – this trend swung into reverse.

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