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Discuss approaches that would attack this problem

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Suppose a developed nation’s economy historically had an economic growth rate of 3% but over the last 10 years, that rate hovered around 2%.  In the last two years, assume it appears to have fallen further—down to 1%.  Worker productivity appears to have been stagnant over the last 10 years as well and that is the likely root of the problem.  Assume this indeed is the problem.  How can a developed nation increase its worker productivity? Discuss approaches that would attack this problem in the short run and the long run.

Reference no: EM13308482

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