For example, in 2020 it did not seem like the major advanced economies would soon be confronting the highest inflation rates in a generation.1 Part of the challenge was that 1 For instance, inflation rates in the United States and the United Kingdom reached their highest levels  since 1981. In France, inflation is at its highest levels since 1984.
Productivity growth is defined as the capacity of individuals to generate added value, or in other words, the ability to earn. Aside from being somewhat lucky, the ability to earn cannot be acquired without actual efforts to achieve it, and this applies to both individuals and firms. Active efforts to respond to a changing business environment are thus required.