Part 3/11:
The underlying drivers of this economic malaise appear to be slow productivity growth and a general economic slowdown since 2009. According to data from the Resolution Foundation, productivity statistics released by official sources may considerably overstate actual economic growth, with evidence suggesting a decline in GDP per capita from 2019 to 2024. Such stagnation recalls historical parallels to the 1930s, a time associated with economic hardship and high unemployment.