Even when they say they want more prosperity, they act as if they don’t
of recession might loom over the global economy today, but the rich world’s difficulties over growth are graver still. The long-run rate of growth has dwindled alarmingly, contributing to problems including stagnant living standards and fulminating populists. Between 1980 and 2000,per person grew at an annual rate of 2.25% on average. Since then the pace of growth has sunk to about 1.1%.
The latter half of the 20th century was a golden age for growth. After the second world war a baby boom produced a cohort of workers who were better educated than any previous generation and who boosted average productivity as they gained experience. In the 1970s and 1980s women in many rich countries flocked into the workforce. The lowering of trade barriers and the integration of Asia into the world economy later led to much more efficient production. Life got better.
Moreover, even when politicians say they want growth, they act as if they don’t. The twin problems of structural change and political decay are especially apparent inper person averaging just 0.4%. Its failure to build enough houses in its prosperous south-east has hampered productivity, and its exit from the European Union has damaged trade and scared off investment.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
'Messi can't rival Maradona's GOAT status' even if he wins World Cup with ArgentinaLionel Messi can’t be compared to Argentine legend Diego Maradona, even if he does go on to win this year’s World Cup, talkSPORT has been told. The 35-year-old is just two games away fr…
Weiterlesen »
Why the rest of the world is supporting Morocco versus FranceMorocco coach Walid Regragui has turned ordinary misfits into World Cup semi-finalists. It’s a masterclass in how to motivate people
Weiterlesen »
Why is anybody expecting England to win the World Cup with that spine?Some absolutely brilliant England mails continuing to fly into the Mailbox. We thought you we would give you a bonus selection ahead of Argentina vs Croatia.
Weiterlesen »
City's skyline set to change even more with new Greengate towersMore than 500 apartments will be built on the 1.3 acre site
Weiterlesen »
Man bags salt & vinegar Walkers for 3p per bag & they’re not even expiredIT’S always a mood boost when you come across a bargain. So one person must have been buzzing after coming across bags of salt and vinegar Walkers crisps for just 3p a bag. They took to the E…
Weiterlesen »
Still hundreds waiting for help even after ambulance service's desperate pleaThere are still some 300 emergency calls waiting to be taken in the North West, more than 300 patients waiting for an ambulance, and over 40 emergency vehicles suffering 'substantial waits' to handover patients to hospital medics
Weiterlesen »