Tag Archives for productivity

Towards a coherent industrial strategy for the UK

Richard Jones

The new report by Industrial Strategy Commission sets out positive principles that can be the foundations for a new UK industrial strategy What should a modern industrial strategy for the UK look like? Last week the Industrial Strategy Commission, of which I’m a member, published its interim report – Laying the Foundations – which sets out some positive principles which we suggest … Continue reading

19 July 2017 by
Categories: SPERI Comment | Tags: , , , , , , , , , | Leave a comment

Margaret Thatcher, Theresa May and industrial strategy

What does the discursive appeal to industrial strategy by Margaret Thatcher and Theresa May tell us about the prospect for radical policy change or continuity? Theresa May’s speech on July 11th 2016, delivered at the launch of her national campaign to become leader of the Conservative Party, was notable for its assertion that a government under her leadership would implement … Continue reading

19 January 2017 by
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Industrial strategy failures increase the likelihood of soft Brexit

Craig Berry

As Theresa May knows, Britain is too weak economically to prosper outside the single market under the current economic policy paradigm – this inconvenient truth will soon tear apart the pro-Brexit coalition In many ways, 2016 was a fairly typical year in post-crisis Britain. The economy continued to stumble along, but the government continued to pretend otherwise, declaring austerity to … Continue reading

17 January 2017 by
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Austerity has transformed the meaning and morality of work in the UK

Craig Berry

Measuring economic success through levels of employment obscures the unsustainable and oppressive nature of the UK’s recovery Work has of course always been central to capitalist organisation, since the ability of capital to extract surplus value from labour is at the essential core of accumulation processes. In post-crisis UK, however, work has become not only integral to the function of … Continue reading

19 July 2016 by
Categories: Austerity, Economics, Employment, Europe and the EU, Rethinking Recovery, SPERI Comment, Sustainability | Tags: , , , , , , , , , , , , | Leave a comment

The Coming Crisis: systemic stabilization and the investment state

A new ‘investment state’ is needed to provide stability in the new uncertain political economy of shadow money, financial instability and demand deficiency We live in an era characterised by a confusing evolutionary dynamic relationship between financial innovation, the state and patterns of investment that we barely understand. At the core of this conundrum is the little understood issue of … Continue reading

18 May 2016 by
Categories: British growth crisis, Finance, Politics and policy, SPERI Comment, Sustainability, The coming crisis | Tags: , , , , , , , , , , | Leave a comment

The Coming Crisis: secular stagnation for the UK?

Jonathan Perraton

Current economic trends suggest the UK may need to be prepared for a period of weak, and potentially zero economic growth It is now almost eight years since the collapse of Lehman Brothers heralded the global financial crisis (GFC), roughly the length of a normal business cycle. Over that time interest rates have been held at record low levels and … Continue reading

11 May 2016 by
Categories: Austerity, British growth crisis, Economics, Finance, Politics and policy, SPERI Comment, The coming crisis, USA | Tags: , , | Leave a comment

New SPERI Paper: Innovation, research and the UK’s productivity crisis by Richard Jones

We are very pleased to publish another SPERI Paper by Professor Richard Jones, Associate Fellow of SPERI and Pro-Vice-Chancellor for Research & Innovation at the University of Sheffield. In the Paper, Innovation, research and the UK’s productivity crisis, Richard shows that the UK’s slowdown in productivity is unprecedented and argues that, if this trend continues, UK living standards will continue to … Continue reading

14 April 2016 by
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How does low access to finance affect innovation?

Georgios Efthyvoulou

A major new study highlights the barriers to innovation that face firms from across Europe There is ample evidence in the economics literature that achieving sustained long-term productivity and economic growth is intrinsically linked to investment in research and development (R&D) and innovation activity (i.e. through the introduction of new or significantly improved goods and services). However, due to the … Continue reading

24 March 2016 by
Categories: Europe and the EU, Politics and policy, SPERI Comment | Tags: , , , , , , , , | Leave a comment

Searching for a sustainable economic alternative in Britain

Daniel Bailey

The challenge is huge and demands coordinated political action at the European and global levels Craig Berry’s paper at the recent SPERI and IPPR roundtable event on the topic of ‘The British Growth Model: Building a Sustainable Future’ argued that a progressive economic narrative based on the contemporary concerns of the British public was required to usher out the already … Continue reading

4 November 2015 by
Categories: Austerity, Economics, Europe and the EU, Politics and policy, Social science, SPERI Comment, Sustainability | Tags: , , | Leave a comment

Innovation, research and the UK’s productivity crisis

Richard Jones

Continuing on our current path of stagnating productivity and stagnating innovation isn’t inevitable: it’s a political choice The UK is in the midst of an unprecedented peacetime slowdown in productivity growth.  Labour productivity – the economic output produced per hour worked – has, for many decades, grown steadily at 2.3% a year.  All that changed in 2007, since when it … Continue reading

23 September 2015 by
Categories: British growth crisis, Development, Economics, Environment, Finance, Global crisis, SPERI Comment | Tags: , , , , | Leave a comment

The political difficulties of ‘Corbynomics’

The problems are not really the economics at all, but much more the politics A month ago nobody had heard of ‘Corbynomics’.  Today Google records 174,000 search results.  It is becoming difficult to escape the term in any form of media.  If Jeremy Corbyn wins the Labour leadership election, its contents and claims will shape political debate in the UK … Continue reading

3 September 2015 by
Categories: British growth crisis, Debt, Economics, Employment, Political theory, SPERI Comment | Tags: , , , , , , , , , , , | 1 comment

What happened to British decline?

Wyn Grant

The discourse may have changed, but the problems remain There was once a whole academic cottage industry devoted to British relative decline.  Indeed, there was a sufficiently large literature to allow me to teach a course on the general issue of decline.   Andrew Gamble published four editions of a book entitled Britain in Decline.  However, the term has now largely … Continue reading

16 October 2014 by
Categories: British growth crisis, Economics, Employment, Housing, SPERI Comment | Tags: , , | Leave a comment