Intro: Growth tends to be stronger if government has less control over a country’s resources beyond the provision of goods and services that the free market cannot produce. The less government control of resources and lthe lower the level of income redistribution, the more land, labour, and capital that entrepreneurs can use to generate productivity…
Intro: While there are many factors which help determine real GDP growth rates across countries, countries with low levels of GDP per capita, high levels of human capita, political stability, financial stability, econoomic freedom, and business freedom will tend to experience rapid growth. High savings rates are also a key factor, along with growth in…
Intro: While we often hear that consumption drives growth, in reality it is the productivity of businesses that creates growth by investing in the production of goods to satisfy consumer demands. Their success depends on the availability of real savings (land, labour, and capital) in the economy and the business environment. All economic growth is…