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Productivity and the bonus culture

Author: Andrew Smithers
Publisher: Oxford ; New York, NY : Oxford University Press, 2019. ©2019
Edition/Format:   eBook : Document : English : First editionView all editions and formats
Summary:
Living 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.  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Andrew Smithers
ISBN: 9780191873461 0191873462 9780192573117 019257311X
OCLC Number: 1102637671
Description: 1 online resource : illustrations (black and white)
Contents: The legacy of the financial crisis --
What I seek to show --
Poor productivity and damaging demography --
The cause of poor productivity --
Ageing populations --
Other influences on growth --
The problem of income inequality --
Two models of growth --
Investment and the stock of capital --
Description of my model --
The results of my model --
Testing the proposed model --
Investment, the capital stock, and economic policy --
The bonus culture has raised the hurdle rate --
The added impact of misinformation --
Implications for growth --
Management and shareholder interests --
Distractions from serious debate --
Deflation --
The UK is similar to the US --
Reversing perverse incentives --
Changing the economic impact of current incentives --
Misinformation adds to the risks for the economy --
The economic consequeences of higher investment --
Summary and conclusions --
Appendices --
Glossary --
Bibliography --
Index.
Responsibility: Andrew Smithers.

Abstract:

Growth in the US and UK is declining due to poor productivity. This book sets out a revised model which demonstrates that weakness in productivity is the result of the bonus culture, and suggests  Read more...

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Smither's conclusions are made more credible by his effective refutation of alternative theories of declining productivity growth and by his unparalleled understanding of underlying data sources. His Read more...

 
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