| Topic: | Productivity Puzzle | |
| Posted by: | Christopher Gillie | |
| Date/Time: | 31/07/18 06:35:00 |
| Hi Christina. I think you are replying to me, but it is hard to tell as the posts are far apart. I am inherently uncomfortable with people voting for their own pay, and I am sure there must be some Councillors who are not terribly happy about it either. I would suggest a more sensible system would be to index link it to inflation. I know there is both RPI and CPI, but either would be fine for these purposes. That does then bring into question whether everyone else gets indexed as well. Although doing so would remove a useful but lazy lever to deflate costs, it would then focus minds on improving productivity to compensate instead. In the UK we have been hopeless at improving productivity, which is a hidden tragedy, as it offers the best long term route to improved prosperity. Hardly anyone apart from economists seem to talk about it, but enabling the same person to do more with better tools and the same effort and hours worked is the secret sauce that makes (or used to make!) us better off. https://www.economicshelp.org/blog/5887/economics/uk-labour-productivity/ |