Cutting barriers to competition, investment and trade in US and EU would boost GDP - OECD study
In these days of protectionist sentiments and resistance to change it is useful to note the research reports on the gains of liberalisation just published by the OECD in Paris.
The paper just takes the best example in each area among the OECD member countries and applies it to all of the countries and then tries to make an estimate of the economic effects.
Efforts like these are certainly not an exact science, but it is still a useful way of trying to get a rough idea of possible effects.
Here, one has taken the Australian level of state control over business, the Danish light administrative procedures for start-up companies, the Irish and British openness to competition and the clear business regulation of Canada and made one economic model of it all.
The results are significant increases in economic growth and welfare - more so in the EU area than anywhere. Over a working lifetime, these increases could amount to a full year's salary.
Not too bad.
As a matter of fact a rather good political program. Let's see if there are any takers.