National action needed

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