Productivity is not everything, but many economic problems can be solved more easily when it grows at a healthy clip. It is the key determinant of a country’s present and future standard of living. But, as it happens, since the oil crisis of the early seventies its growth rates have declined decade after decade in […]
Dieter Wermuth is an economist who writes for the Herdentrieb blog, associated with the ZEITonline magazine. He is also a partner in a private equity boutique.