Innovation in The Monday Briefing

Why we shouldn’t tax robots

Drone

Economists of all stripes would agree that investment and the application of technology drive economic activity. For decades governments around the world have made strenuous efforts to encourage investment and new technologies. Last year this orthodoxy came under fire from an unexpected source.

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Posted on 17/09/2018

Robots and jobs, ten thoughts

Robot
I don’t recall a time when there has been so much interest and anxiety about the effects of new technology on jobs. Last week I took part in a panel discussion at the House of Commons on the future of work. These are the ideas I tried to convey.

 

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Posted on 11/06/2018

Rising wealth, sluggish wages

The City_London
In the last decade Britain and the US have experienced an unusual combination of soaring asset prices and sluggish wage growth.

Between 2006 and 2016, the total value of assets held by UK households rose by 59% while average incomes increased by just 24%.

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Posted on 21/05/2018

Technology and productivity - a complicated relationship

Graphic of planet and charts
There are numerous explanations for why technology is no longer boosting productivity in the way it did in the twentieth century. The US economist, Robert Gordon, argues that today’s technologies are less productivity-enhancing than the great inventions of the past. The opposing view is that technology is still working its magic, but in ways, such as improving the quality of goods and services, which are poorly captured by the statistics.

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Posted on 16/04/2018

What’s the value of a degree?

Graduate
Economists don’t agree about much, but there is a strong consensus that education is a powerful enabler of growth and living standards. In the last century, the number of years people spend in education has risen inexorably. Today better education and training are offering the answer to challenges as diverse as mass automation, low productivity and lack of social mobility.

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Posted on 26/02/2018

UK looking for a boost from the global recovery

MB tool kit
UK growth has softened since the EU referendum, and at a time when the rest of the global economy is picking up. The pace of UK activity has not closely followed the news flow on Brexit, illustrating how politics is one of many factors influencing growth.

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Posted on 06/02/2018

How distance survived the communication revolution

A planet of cities
Errors in predicting the future of technology tend to be extreme. At one end are the naysayers, like the Hollywood mogul Darryly Zanuck, who in 1946 predicted that TV would flop, “People will soon get tired of staring at a plywood box every night."

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Posted on 29/01/2018

2018 global economic outlook

Monday Briefing compass
The global economy enters 2018 with good momentum. Expectations for growth this year are rising in many countries, equities are hitting new highs and business confidence is buoyant.

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Posted on 15/01/2018

CFOs want cost control and growth

Planting seeds for growth
The latest Deloitte survey of UK Chief Financial Officers, released this morning, shows the CFOs enter 2018 more focussed on controlling costs than at any time in the last eight years. CFOs seem to be reacting to slower UK growth and Brexit uncertainties with a renewed focus on costs.

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Posted on 08/01/2018

What to read this Christmas

Monday Briefing christmas reading
We are launching our Christmas reading list today. Our ‘top six’ is the product of a lot of reading and some debate in the Economics Team. The list aims to offer a thought-provoking and enjoyable break from the rigours of Christmas. All are available free and online. You can save these articles on your smartphone's or tablet's reading list. To print any use the print icons, where available, on the webpages to ensure the whole article comes out.

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Posted on 11/12/2017