For example, it is essential to consider the impact of the digital revolution on both labour demand, which has raised fears of a re-emergence of Keynes’ technological unemployment, and income distribution, as highlighted by James Meade already in 1964. This puts a premium on measures to favour investment in education, life-long learning, training and active labour market policies.
Moving on to the fundamental issue of productivity, the report carries out a very detailed analysis of the somewhat puzzling fall in aggregate productivity growth in the aftermath of the crisis. This holds true for non-financial companies in both advanced countries and, above all, EMEs.