In this lecture Professor Leaza McSorley will share insights from her professional experiences of 21 years working in regional economic development.
Leaza will focus on the UK’s productivity puzzle and share findings from her research on inclusive productivity growth, published as part of the Productivity Insights Network’s “Productivity Perspectives”.
This lecture will discuss the implications of the links between productivity and well-being, inequality and inclusive growth. In the UK the slowdown in productivity growth since the financial crisis has been accompanied by stagnating real wages, rising income and wealth inequality, and austerity. This has been particularly acute here in the North East. This research highlights the risk of a potentially ‘vicious cycle’ that may undermine efforts to improve productivity and economic growth, and as such may risk further polarisation of the benefits of improved productivity.
From the analysis, addressing the following themes and areas would appear to be paramount for delivering inclusive productivity growth in the UK: the productivity-related effects of hysteresis, particularly the long-term scarring effect of the financial crisis on regional labour market polarisation; the need for international comparative analysis; demand-led productivity growth and the role of inequality; ways to best manage the productivity gains from digital and technological diffusion to support, rather than undermine, inclusive growth; consideration of ‘soft’ infrastructure and pre-market and non-market factors which affect inclusive productivity growth, including health, demography and the care economy.
The lecture takes place on Monday 27 April at 6pm at Prospect Building, room 009, St Peter’s Campus, Sunderland, SR6 0DD. Refreshments will be served from 5.30pm in Prospect Building.