Which comes first — productivity or investment?

Abstract

Efforts to make British industry more efficient are working to the detriment of the unemployed. For, as Ken Gooding reports, manufacturers are seeking to increase output without adding to the workforce. And there is a reluctance among many industrialists — voiced by GEC chairman, Lord Nelson of Stafford — to embark on major investment without some guarantee of higher productivity.

Citation

(1977), "Which comes first — productivity or investment?", Industrial Management, Vol. 77 No. 9, pp. 10-12. https://doi.org/10.1108/eb056779