Productivity?

[Dave2002]

Yet again the UK's productivity has been compared with "productivity" in other parts of the world, and seen to be lower, but what exactly does that mean? Do we make less "stuff" in a given time, do we manage to provide less or fewer services in a given time, or what ....?

Does it matter anyway? If it's "stuff" - then is that needed?

Regarding services, are we comparing like for like, and is quality important?

Also, are the areas where productivity is seen to be low really that important?

Recent article: http://www.bbc.co.uk/news/32724318

[MrGongGong]

There is no place for this kind of foul and disgusting language in a serious discussion :wink:

[Serial_Apologist]

Productivity is the measurement of how much can be done per unit of labour, or in the case of commodity manufacture, produced over a given period of time, I would have thought.

[gradus]

Whatever productivity is it seems from a BBC prog last week that the French have finished achieving good levels of it by Thursday afternoon whilst our lot are still beavering away until Friday afternoon, at least it was something along those lines.
Apparently we don't spend enough on innovation and modern machines and systems hence our productivity is lower than our main competitors. As an example of what it meant, the Beeb person said that Jaguar's UK engine plant lags the output of its German rivals despite having had millions spent on new machinery and computers by the Indian owners. Presumably our labour costs are lower which must help but we don't produce enough per unit of time.

[Flosshilde]

Apparently we don't spend enough on innovation and modern machines and systems hence our productivity is lower ... Jaguar's UK engine plant lags the output of its German rivals despite having had millions spent on new machinery and computers

Isn't that a bit of a contradiction?

[MrGongGong]

Why is making more stuff always seen as a good idea? (sometimes it is)

I have a friend who restores string instruments, he will take a couple of weeks to carve a new scroll for a viola
a CNC machine will knock one out in 20 minutes

[gradus]

Contradictions don't seem to worry economists overly but I'm not sure where the contradiction lies as I think the point being made was that more engines are built by Germans than by UK workers because the Germans have invested even more in new machinery than Jaguar - I think!

[Flosshilde]

Which suggests that there is no limit on how much could, would or should be spent - a sort of manufacturing version of the arms race & mutually assured destruction. It seems all part of the we must be the best, or outstrip everyone else, mentality that infects things like, for example, the Olympic Games opening ceremonies. Surely 'good enough' can be preferable?

[MrGongGong]

Which suggests that there is no limit on how much could, would or should be spent - a sort of manufacturing version of the arms race & mutually assured destruction. It seems all part of the we must be the best, or outstrip everyone else, mentality that infects things like, for example, the Olympic Games opening ceremonies. Surely 'good enough' can be preferable?

It seems to me (in my little bubble!) that no one in mainstream society seems to acknowledge some of the things we do really well in the UK

Aldeburgh
Spitalfields
Cafe Oto
HCMF
Taylors of Loughborough
Harrison and Harrison
R3 (YES really)
BEAST

etc etc

[gradus]

Agree with your examples of things we do really well (what is BEAST?). There's also an R4 thing going on - sorry I've forgotten on which prog - about things we (UK) are world-class at.

I too like the idea of 'good enough' but I don't think the world is yet ordered in a way that makes it practicable as a model for running the economy.

[Anastasius]

Tomorrow 28th 8.30pm R4 Evan Davies - programme on productivity. Maybe worth a listen ?

[gradus]

Yes, he's always well informed and interesting.

[Serial_Apologist]

Yes, he's always well informed and interesting.

erm......

[MrGongGong]

Agree with your examples of things we do really well (what is BEAST?). There's also an R4 thing going on - sorry I've forgotten on which prog - about things we (UK) are world-class at.

I too like the idea of 'good enough' but I don't think the world is yet ordered in a way that makes it practicable as a model for running the economy.

http://www.birmingham.ac.uk/facilities/ea-studios/about/meet-beast.aspx

(there are many others :-) )

[P. G. Tipps]

http://www.birmingham.ac.uk/faciliti...eet-beast.aspx

(there are many others :-) )

All these things on public money are undoubtedly admirable but, like the NHS, they need a thriving private sector and economy to provide adequate support for them in the first place.

Prime priority, surely, is to be 'good at' that!