chapter  9
18 Pages

ECONOMIC GROWTH IN THE CORPORATE ERA: TRENDS, TRIUMPHS, PARADOXES

A nation’s macroeconomic history is largely the product of two forces, sometimes complementary, other times antagonistic. The first is private economic initiative, the second, public policy. There is, of course, the additional influence of international economic relations. In the case of the United States its impact was less significant than for the other industrial capitalist countries, although the relative American immunity to foreign trade and investment effects appears to have ended in the 1970s.