![](http://static.cambridge.org/content/id/urn:cambridge.org:id:book:9781788211482/resource/name/9781788211482i.jpg)
- Publisher:
- Agenda Publishing
- Online publication date:
- December 2023
- Print publication year:
- 2020
- Online ISBN:
- 9781788211482
- Subjects:
- Economics, Economic Theory
- Series:
- The Economy Key Ideas
12th August 2024: digital purchasing is currently unavailable on Cambridge Core. Due to recent technical disruption affecting our publishing operation, we are experiencing some delays to publication. We are working hard to restore services as soon as possible and apologise for the inconvenience. For further updates please visit our website: https://www.cambridge.org/news-and-insights/technical-incident
Productivity looms large in public policy discussions yet many find themselves hard-pressed to explain exactly what the term means. Even within economics, its nature and significance is contested and the focus of complex debate. Michael Haynes cuts through the jargon and political sloganeering to provide a detailed examination of the concept, how it is used and why it is held by economists to be so important in evaluating the health of economies.
The book explores why productivity grows or fails to grow in certain contexts, in particular how real world variables can interact with measurements of efficiency and output. The difficulties of measuring its scope are examined alongside the larger question of whether growth in productivity is sustainable, both at the level of national economies and globally. Whether productivity remains the motor of economic growth that it once was and continues to be the most appropriate economic indicator for modern economies is shown to be a key consideration.
For anyone searching for a clear, engaging and level-headed guide to one of the most important metrics for understanding economic growth, this book will be warmly welcomed.
* Views captured on Cambridge Core between #date#. This data will be updated every 24 hours.
Usage data cannot currently be displayed.