Econ FINAL essay 5

  1. US
    • size of economy: world's largest (25% of GDP)
    • last at inventing new tech b/c US consumers like and can afford them
    • adopt new tech fast because very competitive market
    • macro strengths: good labor productivity
    • macro weaknesses: high unemployment, large budget deficit
  2. Japan
    • Size of economy: 3rd largest (7% of GDP)
    • management style: on-the-job training, little guidance, family structure
    • macro strengths: high trade surplus
    • macro weaknesses: 2 decades of stagnation
  3. Germany
    • Size of economy: 4th largest (5% of GDP)
    • management style: strong work ethic, long run thinking, high wages/job security
    • apprenticeship system: on the job training, 70% of teens participate
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Econ FINAL essay 5
Econ FINAL essay 5