CEP News: Financial Times: Painful adjustments will prove worthwhile in the long term

Financial Times:
Painful adjustments will prove worthwhile in the long term

22 February 2013

The medium-term growth rate of the economy depends far more on leaving resources in the innovative and productive private sector economy than on boosting short-term demand. In the short term, some of this adjustment will be painful. But as the LSE Growth Commission showed about the legacy of the 1980 reforms, the long-term benefits make it more than worthwhile.

This article was published in the Financial Times on February 22, 2013
Link to article here

Related publications
LSE Growth Commission Report - 'Investing for Prosperity: Skills, Infrastructure and Innovation', by Philippe Aghion, Timothy Besley, John Browne, Francesco Caselli, Richard Lambert, Rachel Lomax, Christopher Pissarides, Nick Stern and John Van Reenen, January 2013

Related links
Francesco Caselli webpage
Christopher Pissarides webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
LSE Growth Commission website

Financial Times:Painful adjustments will prove worthwhile in the long term

Financial Times:
Painful adjustments will prove worthwhile in the long term