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Box B: Productivity Paradox: Challenges and Opportunities

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  • Adam Yousef

Abstract

Back in 1987, the Nobel prize-winning economist Robert Solow observed that 'you can see the computer age everywhere but in the productivity statistics!' (quoted in Rotman, 2018). This dichotomy between limited productivity growth and rapid technological progress is now commonly described as the 'Solow or productivity paradox'. At present, the term 'productivity paradox' increasingly refers to instances where productivity is either feeble or growing slowly. In the United Kingdom, there has been a slowdown in productivity growth since the Global Financial Crisis (GFC). The economic implications of this slowdown have been far-reaching for London and other regions.

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  • Adam Yousef, 2023. "Box B: Productivity Paradox: Challenges and Opportunities," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 12, pages 66-73.
    • Handle: RePEc:nsr:niesra:i:12:y:2023:p:66-73
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    References listed on IDEAS

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    1. Philip McCann, 2020. "Perceptions of regional inequality and the geography of discontent: insights from the UK," Regional Studies, Taylor & Francis Journals, vol. 54(2), pages 256-267, February.
    2. Anna Stansbury & Dan Turner & Ed Balls, 2023. "Tackling the UK’s regional economic inequality: binding constraints and avenues for policy intervention," Contemporary Social Science, Taylor & Francis Journals, vol. 18(3-4), pages 318-356, August.
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