Creative destruction :How to start an economic renaissance

Publication subTitle :How to start an economic renaissance

Author: Mullan Phil  

Publisher: Policy Press‎

Publication year: 2017

E-ISBN: 9781447336129

P-ISBN(Paperback): 9781447336112

Subject: F110 Policy, planning

Keyword: 经济政策理论

Language: ENG

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Description

A new technological revolution is needed, backed by political and cultural change to address Western economic stagnation. This means embracing the major disruption required to our companies and workforce to focus on embryonic technological sectors.

Chapter

Contents

List of figures and boxes

Figures

Boxes

List of abbreviations

Acknowledgements

Introduction

Introduction. A decade after the Western financial crisis

Why no revival of growth?

The Long Depression

The state and the zombie economy

Part I . The state we’re in

1. Decay and resilience

False dawns and flawed forecasts

2. Productivity in decline

Why productivity matters

The deterioration in productivity

The impact on living standards

Productivity: investment and innovation

Productivity controversies

A new ICT economy?

The UK productivity puzzle

3. Innovation puzzles

The meaning of innovation

Measuring innovation

Innovation and productivity

Innovation and production

The state’s role in R&D – and its neglect

4. Why investment matters

Gross investment

The decay in net business investment

Why investment still matters

In conclusion

Part II. The Long Depression

5. The problem of profitability

The puzzle of low investment

Resolving the low investment puzzle

From boom to slump: a crisis of profitability

6. The end of growth

How the crisis of profitability curtails business investment

Investment languishes despite rising individual company profits

The intractability of low profitability

The intellectual challenge

Part III. How we got stuck

7. Contained depression

The moderated business cycle

The atrophy of economic dynamism

Creative destruction drives social productivity

The decline in business and job turnover

8. The zombie economy

Less creative destruction

The rise of the zombie economy

Unintended outcomes

A contained depression is no better than its predecessor

9. The intellectual crisis of capitalism

The intellectual retreat from change

The ubiquity of business uncertainty

Shifting views on uncertainty, the future and change

The ebbing of Enlightenment values

A century of setbacks

Temporary relief

Enemies evaporated

The diminishing of the human

The economic impact of Enlightenment values

A cultural aversion to restructuring

10. Discomfort with change

Heightened fixation on risk

The ascendancy of techno-pessimism

The mantra of sustainability

11. The appeal of muddling through

The depoliticisation of economic intervention

The discrediting of state economic policies

TINA and the rise of technocratic governance

Resilience enhanced …

… at home …

… and through internationalisation

12. The limits of muddling through

False comfort

Perpetuation

Exhaustion

Destabilisation

In conclusion

Part IV. The way out

13. Escaping the Long Depression

The economic challenge

State-led restructuring

The state and the Second World War

The great evasion: political obstacle to change

Creating the political climate for restructuring

Democratic disruption

Notes

References

Index

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