Why Economies Grow

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.

Binding Type: Hardcover
Publisher: Basic Books
Published: 10/16/2002
ISBN: 9780465043118
Pages: 256
Weight: 1.14lbs
Size: 9.59h x 6.44w x 0.93d

Review Citations: Publishers Weekly 09/16/2002 pg. 59
Library Journal 10/01/2002 pg. 112
Harvard Business Review 12/01/2002 pg. 26
Booklist 01/01/2003 pg. 818
New York Times 01/26/2003 pg. 27
New York Review of Books 07/03/2003 pg. 49