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Why Bad Economic Policy around the World?

Why Bad Economic Policy around the World?

Chapter:
(p.257) Chapter Ten Why Bad Economic Policy around the World?
Source:
The Power of Productivity
Author(s):
William W. Lewis
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226477008.003.0010

The innovations of the past fifty years in the Western democracies and Japan are transferable today to virtually every corner of the earth. These innovations improve productivity and cause today's high material standard of living in rich countries. They can also be applied in poor countries. This chapter addresses the question of why innovations have not occurred on a vast scale. It discusses some of the political reasons behind bad economic policies and why GDP per capita matters.

Keywords:   economic growth, Western democracies, Japan, poor countries, GDP, economic policies

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