If there is one goal that economists strive to achieve, it is to understand the causes of faster economic growth. Open a newspaper or switch on to a news programme on the television and radio, and the chances are good that there will be a debate over current levels of growth whether in a particular country or for the world as a whole. We continually read or hear numbers such as 0.1% quarter-on-quarter growth, 2.5% growth annualised or 3% annual growth without always knowing exactly what they mean.
But why is growth so important when there are so many other things we could worry about? The simple answer is that citizens of countries that are ...
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