GrowthHistory宏观经济学-加州大学-詹姆斯·布拉.pptVIP

Copyright ? 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 5-31 Figure 5.7 - World Distribution of Income Today, Selected Countries Copyright ? 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 5-32 Modern Economic Growth around the World ? The U.S. has not been the fastest- growing economy in the world – a number of other countries at different levels of industrialization, development, and material productivity a century ago have now converged – their current levels of productivity, economic structures, and standards of living are very close to those of the U.S. Copyright ? 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 5-33 Figure 5.8 - Convergence among the G-7 Economies: Output per Capita as a Share of U.S. Level Copyright ? 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 5-34 Modern Economic Growth around the World ? The economies that have converged belong to the Organization for Economic Cooperation and Development (OECD) – group of countries that gave or received aid under the Marshall Plan to help rebuild or reconstruct after World War II Copyright ? 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 5-35 Modern Economic Growth around the World ? The OECD countries adopted a common set of economic policies – large private sectors free of government regulation of prices – investment with its direction determined by profit-seeking businesses – large social insurance systems to redistribute income – governments committed to avoiding mass unemployment Copyright ? 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 5-36 Modern Economic Growth around the World ? The OECD countries ended up with mixed economies – markets direct the flow of resources – governments stabilize the economy, provide social-insurance safety nets, and encourage entrepreneurship and enterprise Copyright ? 2002 by The McGraw-Hill Companies, Inc. All rights reserved. 5-37 Modern Economic