References to the pace of economic growth in the United States and elsewhere are commonplace in the news media. However, it's much less common to find informed discussions of the forces that shape the economic growth of nations. This article describes the salient facts gathered by economists on the sources of economic growth in the United States and other countries. Although these facts do not cover every aspect of this complex phenomenon, they do shed considerable light on the mainsprings of economic growth and on the kinds of growth-related government policies that might prove beneficial to the economy.
This article appeared in the May/June 1994 edition of Business Review.View the Full Article