OECD Economic Survey of the US

(CC) OECDThe OECD has just published the latest “Economic Survey of the United States”. According to the study, the United States should do more to foster innovation and provide more equitable access to high-quality education in order to maintain its status as the world’s most vibrant and productive economy.

Data from the Survey suggest the United States is losing its cutting edge in innovation. This affects prospects for long-term growth and for maintaining living standards. Productivity in theU.S.is still growing faster than in most other OECD countries but growth has slowed down since the 1970s. Also, U.S. companies are no longer more likely to innovate than companies in other OECD countries.

Particularly worrying is the performance in education, which is essential to provide workers with the skills necessary to become more productive and to adapt to technological change.

Today, 22 out of 30 OECD countries have more graduates in science and engineering among the 25 to 34 year old workers than the United States.

The full-text is available for the IESE Community here.