OPINION

The scourge of declining productivity

Your editorial «Tackling our high unemployment rate» (August 2) has been drawn to my attention. In it, you correctly point out that countries with the most flexible labor relations (such as the USA, Ireland and Britain) have the lowest unemployment indicators. While you appear to support a flexible labor market for Greece, what you don’t point out is the hidden downside – low productivity. With the exception of the US, most OECD countries have declining, static or negative productivity growth, which is already affecting their competitiveness. Without the right management action, high jobs churn also ensures that institutions lose their organizational memory (OM), which means that they can’t learn from their own experiences.  ARNOLD KRANSDORFF, Hertfordshire, UK.