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Tradable Prosperity by Michael Spence - Project Syndicate

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All countries cannot gain a greater share of global aggregate demand at the same time. But what may look like a zero-sum game is not: if countries increase productivity with the aim of boosting their tradable sectors' relative productivity and growth potential, this will increase incomes and accelerate growth in global demand.

Jul 17, 2012 Michael Spence All countries cannot gain a greater share of global aggregate demand at the same time. But what may look like a zero-sum game is not: if countries increase productivity with the aim of boosting their tradable sectors' relative productivity and growth potential, this will increase incomes and accelerate growth in global demand. MILAN – The global economy is experiencing a major growth challenge. Many advanced countries are attempting to revive sustainable growth in the face of a decelerating global economy. But the challenges across countries are not the same.…

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