A number of other factors also matter, including Madrick's favorite: Economies
of scale realized by businesses with the emergence of regional and national markets can explain about 11 percent of growth.
We might then differ from Derrida and his anticipation of the impossible, unrecognizable, yet possible gift, questioning its desirability as it is imagined and appears connected to a transcendentalized ontology of God, a God who, like the gift, at least for Marion, appears beyond the horizon of "earthly" human economies
of reciprocity, a God ex nihilo, and a gift ex nihilo.
at the cutting edge of technology clearly do not need foreign direct investment to sustain living standards and economic growth.
The globalized economy could produce a vicious downward spiral as sluggish economies
bereft not only of safety nets but even of the political tools to reconstruct them pull each other downward.
Having agreed to effect a massive system change--the Maastricht single currency program--the weaker EC economies
were trapped into higher real interest rates and public spending cuts in a cyclical downturn caused by the debt overhang from the 1980s.
New consumers in most developing economies
are too poor to reciprocate by purchasing goods and services made abroad.
Despite the overall growth, the highly diverse economies
of the Caribbean performed very differently in the past year.
But none of this compensates for the lack of big-ticket spending that keeps most Western economies
so buoyant and savings rates so low.
They would all have modern economies
that would require, for their successful operation, well-educated workers or citizens and increasing numbers of professionals who would, in turn, impose on the society as a whole the typically modern values of the educated classes: secularism, meritocratic social structures, bureaucratic states and pluralis t polities that would provide more or less effective representation of major interests.
Low long-term interest rates in the three largest economies
in spite of ever increasing budget deficits and higher oil prices are a stern reminder that the corporate sectors of those economies
have not regained full health.
In the case of the emerging economies
in East Asia, what matters is not the adjustment of existing structures, but rather the creation of new ones.
Those regions of the country with substantial defense-related activity have been among the areas whose economies
have performed especially poorly.