In this lecture, Lord Sainsbury answers the productivity puzzle: how do we speed up the UK's economic growth?
The 'Productivity Puzzle' has troubled economists for a generation, but there is a simple explanation. We need to understand that value-added per capita varies between the sectors of the economy depending on their production efficiency and the competitive advantage they have in their markets. If we do so, then by analysing the performance of the different sectors of the economy we can see why the economic growth of the UK has been slow and what we need to do to speed it up.
For the second annual Prais Lecture, Lord Sainsbury will seek to answer the productivity puzzle, 'how do we speed up the UK's economic growth?'. After a short presentation, he will then by joined in conversation with Sir Paul Tucker and take questions from the audience. The event will be chaired by Professor Jagjit Chadha, Director of NIESR.
About the speakers
Lord Sainsbury was Finance Director of J. Sainsbury plc from 1973 – 1990 and Chairman from 1992 – 1998. He is the founder of the Gatsby Charitable Foundation, and founded and chairs the Institute for Government. His new book Windows of Opportunity: How Nations Create Wealth was published in February 2020.
Sir Paul Tucker is President of the National Institute of Economic and Social Research. He was the Deputy Governor of the Bank of England from June 2002 to October 2013. He is currently a research fellow at the Harvard Kennedy school and author of the 2018 book Unelected Power.
Professor Jagjit Chadha is Director of the National Institute of Economic and Social Research. Previously he was Professor of Economics at the University of Kent and also at Cambridge. He was Professor of Economics at the University of St Andrews and Fellow at Clare College, Cambridge.
About the Prais Lecture series
This annual lecture series is held in honour of the renowned economist Professor Sig Prais, who was a colleague, friend and champion of the National Institute of Economic and Social Research for over 60 years. This event is also part of the ESRC's Festival of Social Science.
This event is part of the ESRC Festival of Social Science 2020 and is made possible thanks to funding from the Economic and Social Research Council (ESRC), which is part of UK Research and Innovation.