The UK has a problem with growth and this is due to poor productivity: the British earn less from each hour worked than people in many other developed countries. The reason for the poor productivity in the UK is often said to be a ‘mystery’. There is no mystery. Fixing the productivity problem will take time but it can be fixed.
Wonderful piece. But emotion aside, a naive question from a non-economist who's studied the 1840s a bit: how do you see tariffs working without (it seems) inevitably driving production abroad and pushing up prices? Trump can do tariffs (lucky orange man) because the huge US is its own economy. But us?
Wonderful piece. But emotion aside, a naive question from a non-economist who's studied the 1840s a bit: how do you see tariffs working without (it seems) inevitably driving production abroad and pushing up prices? Trump can do tariffs (lucky orange man) because the huge US is its own economy. But us?
The effect of tariffs is greatly overstated - see https://pol-check.blogspot.com/2017/10/tariffs-and-economic-growth.html
Thanks for that and a happy new year.