Windows of Opportunity: how nations create wealth [Audio]

Speaker(s): Lord Sainsbury | Is neoclassical growth theory dead? Why have the biggest industrial economies stagnated since the financial crisis? Is the idea of a competitive threat from China due to a lack of understanding of economic theory or is it a genuine danger to our standard of living? At this event David Sainsbury will set out a new theory of economic growth which explains why the G7 countries have experienced slowing rates of labour productivity over the last twenty five years, the so-called ‘productivity puzzle’, and put forward policies which governments can adapt to innovate and restore their rates of economic growth. In his new book which he will be talking about at this event David puts forward a new theory of economic growth, placing individual firms' investment decisions in the central role. He argues that economic growth comes not as a steady process, but as a series of jumps, based on investment in high value-added firms. He suggests a new theory of growth and develo