- As with organisations, there are many options for change and improvement open to all nations, even when there’s a financial crisis whirling around them
- Some of those options are better/ more effective than others
- And different nations are at different stages of development which means some options must be considered before others – this also determines what they can afford
- G7 developed economies have many areas to choose from, including:
- Deregulation has often raised productivity in the past and can continue to do so
- Changing the boundaries around the work–life balance
- Encouraging people to stay in the workforce longer or
- Increasing the numbers of hours worked each week
- And improving education and so skills of its workforce
- Each could add a few points of absolute growth
- To continually improve, nations need vision and effort
- However, history shows that all nations that rise also eventually fall – they end up defending the status quo rather than taking steps to advance further
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