Solving the productivity puzzle
Why we should all be concerned by falling productivity rates and how businesses should respond
Improvements in productivity have driven global growth for decades. Technological advances, new ways of working, and improvements to transport and infrastructure, have all made businesses more efficient and more profitable. At the same time, rising birth rates meant that there were more young people to do the work and relatively fewer old people to draw down pensions.
Worldwide, that resulted in people being better off; over the past half-century global incomes almost tripled and millions have been lifted out of poverty. It seemed as if it could go on forever.