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Productivity and the bonus culture / [electronic resource]

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자료유형E-Book
개인저자Smithers, Andrew, author.
서명/저자사항Productivity and the bonus culture /Andrew Smithers.[electronic resource]
판사항First edition.
발행사항Oxford ; New York, NY : Oxford University Press, 2019.
형태사항1 online resource : illustrations (black and white)
소장본 주기OCLC control number change
ISBN9780191873461
0191873462
9780192573117
019257311X


서지주기Includes bibliographical references and index.
요약Living standards in the UK and the US are in danger of falling. In the past change has brought disruption with the offsetting reward of higher living standards from growth. Today we have disruption without reward. The resulting voter dissatisfaction encourages populist policies which threaten even worse outcomes. The decline in growth has weakened the standing of liberal democracy both at home and internationally. The decline is entirely due to poor productivity combined with an unfavourable change in demography. The UK and the US have changed from having a demographic surplus in which the working population grew faster than the total population to a demographic deficit. Before living standards grew faster than productivity they now grow more slowly. Faster immigration could change demography, but voters are likely to press for less. To avoid falling living standards we must increase the rate at which productivity improves. Faster productivity does not only depend on technology. We can improve it by encouraging more investment. Growth depends on Total Factor Productivity ("TFP"), for which current consensus estimates are based on a faulty model which has induced pessimism about our ability to encourage more growth. The book sets out a revised and superior model of TFP which demonstrates that the weakness in productivity is the result of the bonus culture and suggests ways by which this can be changed so that investment is encouraged and growth returns.
일반주제명Economic development.
Industrial productivity.
Labor productivity.
Bonuses (Employee fringe benefits)
Investments.
Bonuses (Employee fringe benefits)
Economic development.
Industrial productivity.
Investments.
Labor productivity.
언어영어
기타형태 저록Print version9780198836117
대출바로가기https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=2177647

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