Putting Together the Pieces of the Productivity Puzzle: Review Article of Productivity Perspectives and Productivity and the Pandemic

The productivity puzzle in the UK may have taken a turn with the arrival of the COVID-19 crisis although we do not know at this point whether it will be for the better or the worse. The two edited volumes discussed in this review article are distinguished by the first being produced just before the pandemic, and the second in the midst of it. Together, the volumes address a broad range of economic, social and policy issues related to the productivity puzzle in the UK, with a strong focus on organizations, management, entrepreneurship, innovation and skills. In addition to examining productivity growth at the firm level, the volumes also analyze differences in productivity and income between firms, workers and regions. There is also a strong plea for a system-based approach to policy making for productivity. On the whole, the contributors take a cautious approach on how much the pandemic will change productivity performance in the medium-term, but they argue strongly in favour of active policy intervention to mitigate the damage arising from the pandemic and create better conditions for a sustained productivity revival.