Forum | UK low productivity by Darth_Koont

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UK low productivity 10:17 - Aug 19 with 419 views

Good article hinting at the lack of realism and indeed results at the heart of the neoliberal experiment.

https://tribunemag.co.uk/2022/08/liz-truss-graft-comments-productivity-workers-p

Productivity has been ignored by politicians and pundits over the years. The reason? Not just because they're too cheap and empty to worry about it. But also because it's very much the result of the cheap empty politics the mainstream parties and media defend.

This is an important passage:

"UK business investment as a share of GDP is the lowest in the G7, while the UK devotes just 1.7 percent of GDP to research and development investment compared with an average of 3.1 percent for other members of the OECD. And that investment has been low since the 2008 financial crash. Investment in UK infrastructure, seen by many as a peg for boosting productivity, has lagged behind other advanced economies for years now. One calculation from 2016 found UK capital investment was 16.6 percent of GDP, compared to the 20.8 percent average for the OECD. Investment in education and skills to try and move away from low-paying labour has also been lacklustre for years."

This is gross mismanagement of an economy but it's also indicative of a systemic lack of care or concern for UK society and its future.

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