Improving productivity - Opening the black box.
Hourly productivity levels in the UK still remain behind those in some competitor countries. The government devotes much policy attention to enhancing productivity and continues to emphasise its five drivers - investment, innovation, skills, enterprise, and competition. This article argues that it is investment broadly defined that is the key to sustained productivity improvement. The emphasis should be on improving productivity simultaneously with improving the quality of production. Only th...Expand abstract
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