Why Economies Grow: The Forces that Shape Prosperity and how We Can Get Them Working Again

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Basic Books, 2002 - Business & Economics - 242 pages
The forces that shape economic growth: --The size of markets. Large markets make economies of scale possible and thus encourage saving, investing, and the development of new products.--The availability of information and the literacy of the population. The spread of information gives people access to scientific and technical ideas, products, and productive farming, manufacturing, and marketing techniques.--Natural resources. These seem like primary requirements but are not: they depend on markets for their commercial value.--Surplus capital--savings--that can be used as investment.--Basic economic rights such as guarantees of property and contracts.--Entrepreneurialism, creativity, and the human drive for self-improvement.--Technology and invention. While commonly seen as primary (or even the only) requirements for growth, these are strongly dependent on other factors.

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Why economies grow: the forces that shape prosperity and how we can get them working again

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Economists believe that, to make an economy grow, many factors must be in place, such as sufficient capital or abundant natural resources, while most Americans believe that technological innovation is ... Read full review

Contents

Why Economies Grow
1
The Invention of the New Economy
13
The Importance of Economic Growth
31
Copyright

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About the author (2002)

Formerly the financial editor of BusinessWeek, Jeffrey Madrick is a monthly columnist for the New York Times "Economic Scene" and a frequent essayist for the New York Review of Books. A contributor of opinion pieces to the New York Times, the Washington Post and the Los Angeles Times, he has also appeared as a guest on CNN, CNBC, NPR, and PBS's "Charlie Rose Show.

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