Chapter

Why Bad Economic Policy around the World?

William W. Lewis

in The Power of Productivity

Published by University of Chicago Press

Published in print April 2004 | ISBN: 9780226476766
Published online February 2013 | e-ISBN: 9780226477008 | DOI: http://dx.doi.org/10.7208/chicago/9780226477008.003.0010
Why Bad Economic Policy around the World?

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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

Chapter.  10546 words.  Illustrated.

Subjects: Economic Development and Growth

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