Working Paper: NBER ID: w23221
Authors: Martin S. Feldstein
Abstract: Although the official statistics imply that the rate of growth of real GDP in the United States has declined in recent years, it has still been substantially higher than the real growth rates in Europe and the other industrial countries, leading to higher real per capita incomes. This paper discusses ten reasons for the higher rate of real economic growth.
Keywords: No keywords provided
JEL Codes: E6; E60
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| U.S. entrepreneurial culture (P12) | higher economic growth (O49) |
| supportive financial system (P34) | higher economic growth (O49) |
| world-class research universities (I23) | higher economic growth (O49) |
| flexible labor market (J46) | higher economic growth (O49) |
| growing population (J11) | higher economic growth (O49) |
| culture of hard work (P12) | higher economic growth (O49) |
| energy independence (F52) | higher economic growth (O49) |
| less burdensome regulatory environment (K20) | higher economic growth (O49) |
| smaller size of government (H11) | higher economic growth (O49) |
| decentralized political system (P40) | higher economic growth (O49) |