Economists are baffled

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gmc
Posts: 13566
Joined: Sun Aug 29, 2004 9:44 am

Economists are baffled

Post by gmc »

Economists are baffled about productivity’s weakness…

Why the economic forecasts for Britain are so apocalyptic – and how much Brexit is to blame | The Independent

Productivity is also the key determinant of wage growth. Many economists (although not all) take the view that if wages grow considerably faster than productivity the result is a surge of damaging inflation, which means that in inflation-adjusted terms, wages don’t actually grow at all.

Average real wages in the UK are still around 6 per cent below where they were in 2008, with the blame being put on the fact that productivity has not grown over that time.


Now about people are really really pissed off and see no point when the bankers get away with almost bankrupting us and company bosses and MP's continue to take pay rises and companies get away with paying no tax while the rest of us are supposed to just suck it up.

Economists imo monetarists in particular got us in to this mess. We no longer have a capitalist economy.
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FourPart
Posts: 6437
Joined: Fri Jun 06, 2014 3:12 am

Economists are baffled

Post by FourPart »

My Boss, Bill Bullen (C.E.O. Utilita Energy), well & truly threw his Political hat into the ring immediately after the Budget.

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