Project Syndicate - 12 Sep 2017
Living and working in the Alps, we couldn’t not share this article from the former chief economist of Goldman Sachs! It contains a wealth of anecdotal data with which to assess the state of the global economy and explains why Switzerland is such a happy and successful place. The most interesting insight (that we’ve pinpointed many times in our various Barometers): the rise of the Chinese traveller will be one of the biggest economic stories of the coming decades (reads in 5-6 min).
Published in Weekly selection 15 September 2017
Project Syndicate - 20 Jul 2017
This is a provocative question! Lord Turner offers his own take on the productivity paradox. Among the many different reasons that may explain why productivity is declining, he argues that as we get richer, measured productivity may inevitably slow. He explains that the growth of difficult-to-automate service activities may account for some of the productivity slowdown, and so does the growth of “zero-sum” activities. This is a most important read (5-7 min) because it explains why measured GDP and gains in human welfare eventually may become entirely divorced.
Published in Weekly selection 21 July 2017
Foreign Affairs (metered paywall) - 12 Jun 2017
This article explains why governments have poor records when it comes to raising productivity growth. Improving infrastructure, supporting scientific research, fostering education and worker training all may contribute to faster productivity growth over time, but no one can say how quickly those investments will pay off—or whether they will pay off at all. If productivity is to soar again, it will almost certainly be the result of innovations taking root in the private sector, but when? (reads in 4-5 min).
Published in Weekly selection 16 June 2017