The Productivity Institute’s Post

Productivity growth stagnation over the last 15 years has impacted the resilience of the UK economy and society, making it harder for people, places, and firms to sustain themselves. What can be done to solve this issue? Read Bart van Ark, Diane Coyle and Jonatan Pinkse's article for Resilience First to find out more: https://lnkd.in/dYAZYXDs The blog is based on the authors' work on The Productivity Agenda, the blueprint for boosting the UK's productivity growth: https://lnkd.in/eyK9aHDV #netzeroweek #productivity #growth #productivityagenda #economy #netzero #resilience #resiliencebuilding King's Business School Bennett Institute for Public Policy Alliance Manchester Business School

Productivity growth stagnation over the last 15 years has impacted the resilience of the UK economy and society, making it harder for people, places, and firms to sustain themselves. What can be done to solve this issue? Read Bart van Ark, Diane Coyle and Jonatan Pinkse's article for Resilience First to find out more: https://lnkd.in/dYAZYXDs The blog is based on the authors' work on The Productivity Agenda, the blueprint for boosting the UK's productivity growth: https://lnkd.in/eyK9aHDV #productivity #growth #productivityagenda #economy #netzero #resilience #resiliencebuilding King's Business School Bennett Institute for Public Policy Alliance Manchester Business School

Such a great reminder Christine Verdonck. Economic productivity isn't an abstract concept: it leads to more investments, more jobs, higher taxes paid (don't say that too loud) and a higher quality of life. Looking forward to this great Summit!

Productivity is the key to driving economic growth, leading to better living standards. To understand how we improve it, read The Productivity Agenda, our blueprint for boosting the UK's productivity: https://lnkd.in/eyK9aHDV #productivity #productivityagenda #growth ESRC: Economic and Social Research Council

This is a really insightful article by Bart van Ark! 👇 If you're interested in learning more about the importance of investing in effective productivity strategies, join our 4 day course, Strategic Productivity, delivered by Bart van Ark, where you'll take a deep dive into the five core pillars of productivity. Find out more: https://ow.ly/R1sH50QMGGP

🚨 Urgent: Canada's Productivity Plummets – A Directive for Leaders 🚨 Attention, Canadian business trailblazers! Are you aware of the troubling trend that's emerged in our economic landscape? As of December 2023, we're facing a stark reality: our nation's labour productivity has plummeted for an alarming six consecutive quarters. This isn't just a dry statistic to glance over during your morning coffee; it's a resounding alarm bell that demands immediate action from every one of us steering the ship. Let’s face it – productivity is the lifeblood of our economy, intricately woven into the fabric that determines our collective prosperity and growth. The current decline is more than a blip on a graph; it’s an urgent message telling us to rethink how we do business and to innovate at pace. So what’s pulling us down? Here are critical factors identified in recent studies: 1. High industry concentration – suffocating healthy competition 2. Interprovincial trade barriers – handcuffing efficiency 3. Anemic private sector R&D investment 4. Entrepreneurial spirit drought 5. Geographic and climatic hurdles disrupting transport 6. Underinvestment in vital business assets like machinery and IP 7. Feeble market competition forces 8. Regulatory ambiguity paired with pervasive risk aversion These challenges might seem daunting, but they are by no means unbeatable giants on our path to success. We can turn the tide by: 1. Cultivating fertile grounds for innovation and entrepreneurial ventures. 2. Channeling investments into high-output sectors while supercharging R&D initiatives. 3. Demolishing interprovincial barriers to oil the gears of trade and transportation. 4. Injecting life into competitive markets. 5. Advancing tech adoption and intellectual property investments to sharpen efficiency. The Bank of Canada has underscored this urgency, pinpointing heightened productivity as critical armor against looming inflation threats. It falls upon us, leaders with vision, to spearhead transformational change ensuring not only survival but also thriving futures for all. Now let's open up this crucial dialogue: How is your organization actively elevating its productivity game? What innovative strategies can we collectively harness as stewards of industry growth? Your unique insights could be the beacon that guides countless others toward brighter horizons in Canadian enterprise.

Read Bart van Ark's piece for The Times where he sets out The Productivity Institute and the Centre for Economic Performance's call for a new statutory Growth and Productivity Institution for the UK: https://lnkd.in/epbMqYD7 The article also sets out the three key challenges for UK productivity growth that were identified in The Productivity Agenda: 🔔 Chronic underinvestment 🔔 Lack of knowledge diffusion 🔔 Institutional fragmentation Read Bart's chapter of the agenda with Anna Valero for more analysis of why a new statutory body is needed: https://lnkd.in/eyK9aHDV #productivity #growth #productivityagenda #investment #productivitymatters

Read Bart van Ark's piece today for The Times where he sets out The Productivity Institute and the Centre for Economic Performance's call for a new statutory Growth and Productivity Institution for the UK: https://lnkd.in/epbMqYD7 The article also sets out the three key challenges for UK productivity growth that were identified in The Productivity Agenda: 🔔 Chronic underinvestment 🔔 Lack of knowledge diffusion 🔔 Institutional fragmentation Read the agenda for more analysis: https://lnkd.in/eyK9aHDV #productivity #growth #productivityagenda #investment #productivitymatters

Excited to moderate a session at the University of Calgary School of Public Policy's Productivity Summit on October 16 and 17. Looking forward to an interesting discussion with Charles St-Arnaud, Scott Fash, MCIP, RPP, and Thomas Grell on the productivity (and associated workforce) challenges facing the construction sector today. We'll focus on the role that public policy plays in generating the skilled trades that the industry needs and the associated impact on Canada's overall productivity. #productivity #skilledtrades #construction #areweinvestable https://lnkd.in/gdBSNDp8

Jim Balsillie (Co-Founder of the Council of Canadian Innovators) delivers must-read insights in today’s Globe and Mail OpEd—essential for anyone committed to solving Canada’s productivity crisis and shaping future public policy. “We live in a knowledge economy, where value is derived from intangible assets. This economy is epitomized by the global race for intellectual-property (IP) ownership and control of data, transforming global markets into a new landscape, where ideas are owned, data are the new natural resource and algorithms are the new machinery and equipment. Canadian discourse on productivity and our policy making need to reflect that reality. Instead, discourse on the productivity crisis remains stuck in the 1970s, awash with diagnoses and solutions that have no bearing on what moves the productivity dial in the 21st-century economy. If we have any chance of fixing Canada’s productivity challenge, first we must fix how we talk about it.” “Companies that own valuable IP and have requisite data assets scale more easily, pursue or create new markets more quickly and have the capacity to block new entrants completely, including by acquiring early-stage companies on the cheap. Canada’s businesses own dismal amounts of IP, control dismal stocks of data assets and therefore lack the opportunity to invest gainfully.” “But in the contemporary global economy, simply investing in new equipment and machinery is not a source of productivity gains because the same machinery, equipment and capital are also available to low-cost countries. For Canada, deploying this strategy, let alone with government subsidies, is a race to the economic bottom.” ”Lack of competitive intensity” is not the reality for Canada’s entrepreneurs. They already compete globally and face intense competition, not just from direct competitors but also because of strategic behaviour from smart countries that work hand-in-glove with their industries to advance their economic interests.” https://lnkd.in/eVaSV-4A