Are Pro-productivity Policies Fit for Purpose?

Featured Event

Bart VAN ARK (Non-Resident Fellow, RIETI / Professor of Productivity Studies & Managing Director of The Productivity Institute, Alliance Manchester Business School (AMBS) at the University of Manchester)

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To read the full summary:
https://www.rieti.go.jp/en/events/bbl/25032601.html
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Today, in many advanced economies - and particularly in Japan - growth in employment and total hours worked has plateaued or even declined. Since GDP growth equals the sum of labor input and productivity gains, future economic growth must now rely almost entirely on productivity improvements. While this trend began to show in Japan several decades ago, it is no longer unique to Japan, as nowadays many European countries are beginning to experience the same structural shift.

At the same time, societies find themselves surrounded by rapid technological progress, with AI being the most recent example, without yet seeing clear productivity gains. This recalls Robert Solow’s famous observation from the 1980s: “We see computers everywhere except in the productivity statistics.” The question now is whether this pattern is being repeated or whether the world is entering a new phase where technology may help address broader issues such as aging populations, climate change, and geopolitical shifts.

Technology also brings challenges, including job disruption and societal risks. It is time to ask whether the productivity policies of the 1980s–2000s remain adequate, or whether a new policy framework needs to be developed.

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To watch the video: https://www.rieti.go.jp/en/events/25032801/handout.html

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List of Discussion Papers:
https://www.rieti.go.jp/en/publications/act_dp.html
List of Upcoming and Past Symposiums:
https://www.rieti.go.jp/en/events/symposium.html
List of Upcoming and Past BBL Seminars:
https://www.rieti.go.jp/en/events/bbl/

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