Britain's productivity puzzle
The Briefing Room
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The Golden Age of European Growth
In the 19 fifties and ninetee sixties, we have a phase of very strong economic growth. In the uk, for example, labor productivity grew at nearly four % a year. This period is often known as the golden age of european growth. Although inflation eventually came to be a problem, that wasn't until the 19 seventies. The ura of chief petral is over. To day, for one pound, the petral that goes into your tank is little more than one and a half gallo.
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