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Patterns: Clear and Strong

Patterns: Clear and Strong

Chapter:
(p.229) Chapter Nine Patterns: Clear and Strong
Source:
The Power of Productivity
Author(s):
William W. Lewis
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226477008.003.0009

The previous chapters described the economic performance of the rich parts of the world, Japan, Europe, and the United States, the performance of one middle-income country, Korea, and the performance of three poor countries, Brazil, Russia, and India. This chapter brings together the explanation of why countries have the economic performance they do. It discusses patterns by industry across countries. It reviews why labor and capital markets are less important than product markets. It also addresses why education and infrastructure, both high on the World Bank's priority list, are much less important than getting competition right.

Keywords:   economic performance, Japan, Europe, United States, Korea, Brazil, Russia, India, product markets, competition

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