What is a "During A Period Of Economic Growth And In An Optimistic Environment"? The Most Authoritative Explanation.

What is a "During A Period Of Economic Growth And In An Optimistic Environment"? The Most Authoritative Explanation.

Is productivity growth declining?

While the importance of productivity to future economic growth is rising, productivity growth has been on a declining trend across a broad range of economies, including most advanced economies and, more recently, many major emerging economies as well. Looking ahead, what are the prospects for productivity growth?

Is productivity the main engine of economic growth?

Productivity is indeed the main engine of economic growth. This will likely be even truer in the period ahead if the impulse to growth from factor accumulation slows. Notably, in many major economies, population aging will constrain the growth in labor input.

What do people think about the future of the world economy?

Expectations for the future are even more upbeat. While the global outlook has wavered in recent months, respondents are more optimistic now about the world economy’s prospects than they’ve been at any other point during the crisis: 69 percent believe global economic conditions will improve, up from 56 percent in the previous survey.

What are the characteristics of optimism?

This optimism has a self-fulfilling character: because of their optimism, consumers consume more and investors invest more, thereby validating the prevailing optimism. An important feature is that the additional investment increases productivity, thereby adding an extra self-validating feature.

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