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determination of long-run growth, supply-side policies, productivity, factors influencing growth
Why aren’t we all getting richer as fast as we used to? Despite the arrival of smartphones, artificial intelligence and self-driving car prototypes, many countries, including the UK, have experienced much slower growth in productivity since the 2008 financial crisis. Economists call this the productivity puzzle. Understanding why productivity growth has slowed matters because, in the long run, it is productivity that drives rising wages and living standards.
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