Over two days last week, politicians, company CEOs, trade unionists, economists, NGOs and thinkers gathered at the OECD in Paris to consider major issues affecting the global economy. Under the heading ‘Bridging Divides’, this year’s OECD Forum had three major themes: Inclusive growth Digitalisation Trust These issues are, of course, interlinked. There was no pretence…
If industrial policy is suddenly so popular amongst politicians wanting our votes, why was it so controversial before now? The answer to that question lies in the fact that industrial policy has been based on an understanding that some business sectors are favoured over others, usually against market signals. This was directly contrary to the…
The main parties in this election are committed to an active industrial strategy, a great improvement over years of leaving much of the development of industry to market forces. But we need to see the detail. As they publish their manifestos, we’ll be watching closely to see what their own ideas are for industrial policy.…
How important is the voice of workers to the success of industry? Needless to say, industrial success is a collaborative process: the best companies enjoy the benefits of excellent management, engaged shareholders (or a visionary owner) and a talented, well-trained, properly paid workforce. Despite this, received wisdom in the UK has long been that company…
General election campaigns are an opportunity for competing political parties to set out their visions of the economic and social future of the country. Those visions can be markedly different, but going into this campaign we are in the happy position of knowing that the new Government, to be elected on 8 June, will be…
Will robots take all the jobs? This dystopian question, prompted by the so-called ‘fourth industrial revolution’ – an umbrella term encompassing Artificial Intelligence, Big Data and the ‘Internet of Things’ – has prompted a lively debate in recent years. Digitisation is seen by some as simply the next wave of technological progress, but there is…
How to respond to the populism and protectionism of Donald Trump will be one of the biggest challenges facing mainstream economists and politicians in 2017. A good starting point for that debate might be Martin Wolf’s wide ranging article in today’s Financial Times, ‘Donald Trump’s tough talk will not bring US jobs back’(£). Wolf’s argument…
The Government has now launched its long-awaited Green Paper on industrial strategy. This could turn out to be a significant moment in the fortunes of Theresa May’s Premiership: with Brexit placing, at the very least, a question mark over the UK’s economic prospects in the near future, an active, intelligent industrial strategy is the best…
Early this week the government is due to announce details of its long-awaited green paper on industrial strategy. This announcement would be important at any time, but in the context of Brexit, an active, intelligent, sustainable industrial strategy will be essential to the UK’s economic fortunes. The TUC will make a detailed submission to the green…
In an important week for global affairs, Chinese president Xi Jinping has given a major speech at the United Nations in Geneva, arguing that the world must not allow the Paris climate deal to be “derailed”. Demonstrating the neat turn of phrase associated with his predecessor, Deng Xiaoping, President Xi said: “Clear waters and green…