What's behind low productivity and flatlining pay?
Newsnight interviews Andy Haldane, Chief Economist of the Bank of England on the contributory causes of the flat-lining of pay over the last ten years. Why has productivity stalled? Haldane argues that perhaps only 5 per cent of firms are taking the "productivity high road" whereas the UK economy suffers from a long tail of relatively inefficient firms whose productivity is low and who cannot afford to pay people more.
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- Economics
- In the News
- Andrew Haldane
- Nominal wages
- Wage differentials
- Productivity
- Productivity bargaining
- Productive efficiency
Geoff Riley
Geoff Riley FRSA has been teaching Economics for thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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