The Impact of Policy on Growth

The government can incentivize savings and investment by changing the relative cost of taking each action.

A country can impact its long-term growth by affecting human capital through education and healthcare investments.

Property rights are theoretical constructs that determine how a resource is used and owned.

Government can promote free trade by reducing tariffs, quotas, and non-tariff barriers.

The government can establish intellectual property laws, directly conduct research, or finance research and development.