Posted . For the last five years the global economy has been in a low-growth trap, with growth disappointingly low and stuck at around 3 per cent per year. Persistent growth shortfalls have weighed on future output expectations and thereby reduced current spending and potential output gains. More...
Posted . Growth can be more inclusive by pursuing policies that enable improvements in a country’s living standards while sharing gains more equitably across the population. Inclusive growth incorporates a focus on relative – not just absolute – income and wealth inequality, and on well-being, which depends on both monetary and non-monetary conditions, such as access to quality education, employment, housing and healthcare. More...
By Andreas Schleicher. Tomorrow, the OECD will publish the 2015 PISA results. The world’s premier global metric for education will tell us which countries have the best school systems, based on the performance of 15-year-olds in science, mathematics and reading over a two-hour test. More...
By Deborah Roseveare. Last night I got a taxi home and as often happens, the driver and I got chatting. Then he asked me a rather strange question – “Do you like the smell in my car?” Well, I have to say the smell was a very subtle one but it led to a fascinating conversation. More...
By Dirk Van Damme. High-performing education systems value teachers and invest a lot in them. And indeed, the human factor is crucial in creating effective and high-quality teaching and learning environments. On average across OECD countries, the compensation of staff involved in education counted for 77% of total expenditure on secondary education in 2013. More...
Since 2008, the dominant model of capitalism – with its emphasis on markets, weak regulation and the concentration of private capital – has been fast losing friends. It has fuelled rises in inequality, and far from delivering stable, long term growth, has brought growing economic turbulence. Even former cheerleaders, including the IMF, are questioning its sustainability. More...
Systems without central control are ubiquitous in nature. The activities of brains, such as thinking, remembering and speaking, are the outcome of countless electrical interactions among cells. Nothing in the brain tells the rest of it to think or remember. More...
Global finance is the perfect example of a complex system, consisting as it does of a highly interconnected system of sub-systems featuring tipping points, emergence, asymmetries, unintended consequences, a “parts-within-parts” structure (to quote Herbert Simon), and all the other defining characteristics of complexity. More...
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