How can £20bn cash cuts and increased marketisation lead to a better NHS? 1) Markets (note, not capitalism, markets) promote innovation better than centrally planned or run systems. 2) Innovation leads to increases in total factor productivity. 3) Increases in tfp are synonymous with (as in, this is the definition of tfp) being able to

Nick Clegg yesterday called on more British companies to offer shares to their employees, arguing it will improve productivity and unlock growth: “We don’t believe our problem is too much capitalism – we think it’s that too few people have capital.” (Also available on the BBC website here.) * You can read Nick’s speech in

The BBC reports: Deputy Prime Minister Nick Clegg has urged more companies to offer shares to their employees, saying it will improve productivity and unlock growth. He told an audience in the City that the government planned to cut red tape, and reform the tax system to accommodate employee ownership. It is hoped the measures

Deputy Prime Minister Nick Clegg is to urge more firms to offer shares to their staff, saying it will improve productivity and boost growth.

This. Yes, productivity in services increases at a slower rate than productivity in manufacturing. Thus, inevitably, given that average wages are set by average productivity, services become more expensive compared to manufactures. I’ve made this point around here a number of times. Ritchie then says that, as a result of Baumol’s analysis, services should be

Her government’s savage deflation destroyed a fifth of Britain’s industrial base in two years, hollowed out manufacturing, and delivered a “productivity miracle” that never was, and we’re living with the consequences today. Strange that manufacturing output was higher when she left office than before she took it really. What she did succeed in doing was

A decline would give the troubled periphery countries time to improve productivity growth to match Germany’s, writes Martin Feldstein

Now there is official acknowledgment that a country burdened by bank assets five times its GDP and chronically poor productivity is being dragged into the deepest and longest economic setback in modern times So that idea of yours, that banks should take on more assets by lending more to companies: if banks having too many

Britain will soon be a leaking ship – it'll lose £1 billion per year by 2015, if George Osborne stubbornly sticks to the 50 per cent top tax rate. As other countries have moved to attract the wealthy, the UK has actually taken a step backwards, according to a new report. And there are losses that are harder to quantify – dampers on productivity and entrepreneurship, and deter...

According to the OECD, France has higher productivity than the UK – $53.7 per hour worked compared to $45.4 – despite its less flexible labour markets, in large measure due to its excellent infrastructure. No, France has higher productivity per hour worked because of its less flexible labour markets. The numbers are here. English and