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He found that collapsing productivity in the North Sea oil sector – as remaining reserves become harder to extract – and in the financial sector – as the legacy of the crash plays out – must take part of the blame.
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The chancellors and mandarins have necessarily been preoccupied with urgent problems in the past seven years: collapsing banks, currencies and productivity.
The British economy has developed its own acute version of the productivity puzzle; over the course of the financial crisis and recovery productivity collapsed, shielding the economy from labour-market carnage.
Something has led to a collapse in productivity growth, aptly named our "productivity puzzle".
Given the unprecedented nature of this collapse in productivity (see Chart 1.4 of the Autumn Statement for example), both historically and compared to other countries, it is the key to understanding the durability of any recovery.
The result was a proliferation of uneconomic units and corruption, and a collapse in productivity.Nehru's daughter, Indira Gandhi, became prime minister in 1966, and in the next decade took the command economy to new heights.
The Bank does not believe these "zombie firms", as they are sometimes known, are jeopardising financial stability, and it argues that while propping up firms instead of letting them go bust could lead to a misallocation of resources across the economy, it is unlikely to be the explanation for much of the collapse in productivity in the UK since the crisis.
So the megamergers of the 1990s masked a decade-long collapse in productivity.
But now that the boom has collapsed into sluggish growth, productivity's contribution to that prosperity is uncertain.
String collapsing.
Buildings collapsing!
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com