alexa A Recipe for Promoting Economic Growth and Higher Living Standards in the 21st Century

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A Recipe for Promoting Economic Growth and Higher Living Standards in the 21st Century

Following the Great Global Recession, some economies rebounded in a reasonably adequate fashion, while others have grown only very slowly. Arguably, for example, Germany belongs in the former category whereas the U.S. falls into the latter category. Why would such large industrial nations respond so differently to the same global economic environment? Recent research dealing with member nations of the OECD provides potentially very useful insights for a policy recipe for promoting economic growth and prosperity in the global economy of the 21st century. The principal ingredients in this recipe are provided in this paper.

 
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