In Search of the Silver Bullet for Productivity Growth: A Review Article of The Power of Productivity and Transforming the European Economy

This article reviews The Power of Productivity by William W. Lewis and Transforming the European Economy by Martin Neil Baily and Jacob Funk Kirkegaard. While Lewis postulates a single silver bullet for productivity growth, namely the freedom of consumers, Baily and Kirkegaard advocate a broader package of measures. Despite what the reviewer feels is inadquate attention give by both volumes to innovation and education -- two areas that are generally felt to be very important in terms of productivity -- these books are sure to be seen as two of the major contributions to the debate on productivity and growth around the turn of the century.