Analysis Oh dear. If all this new technology is so amazing, why isn’t it translating into productivity gains?
The question has been bothering economists and policy-makers for almost a decade. Since the 2008 financial crisis, productivity in many major Western economies has been flat. A hefty new examination by McKinsey’s eponymous think tank the MGI offers a few reasons why – and explains why “digital” doesn’t seem to be helping.
The authors of Solving The Productivity Puzzle: the Role of Demand and the Promise of Digitisation at the McKinsey Global Institute (MGI) depart from the sunny forecasts typically made by “thinkfluencers” and tech hypesters.
