In the year 2007 Gordon Brown became prime minister, Northern Rock went bust and the iPhone was introduced. But something silently and invisibly calamitous must also have happened in Britain, because it was the year that productivity growth in Britain all but ceased.
Tempting though it may be to blame some or all of the above, no-one seems to be able quite to put their finger on it.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk