Aerial View of Namibia ' s Capital at Sunset - Windhoek , Namibia
Economic growth is a long-term increase in a country ' s wealth , which is measured by GDP . Also , R . Solow ' s Theory , a major reference for neoclassical economics , based on several assumptions , considers growth to be balanced in the long term , when it is largely based on technical progress . This type of growth would be stable and naturally lead to full employment . In the 90s in the United States the administration led by President William . J . Clinton brought this theory out of the closets of university campuses to create a framework that would revolutionize the emergence of new information technologies . Behemoths like Amazon , Apple , or Microsoft have largely benefited from this legal framework and the unfailing support of the American government behind the scenes to develop and become what they are today , even if in return one can criticize the interference in the private lives of citizens of the world , through the window of opportunity that technology o ers on spying on people ’ s lives by the United States government
Similarly in China , the Communist Party , under the impetus of leaders such as Jiang Zemin in the 1990s and Hu Jintao in the 2000s , carried out a farreaching policy of acquiring and developing technological knowledge , which definitively placed China on the way to a major economic and technological power in the 21st century . In Africa and in the third world , states , in order to succeed in giving employment to their population and a decent standard of living which would drastically reduce the race for immigration , should imperatively emphasize training executives in technology , while encouraging the creation of companies that would use these executives in the production of wealth . It is absurd that the State in underdeveloped countries remains the first employer , while this same State in a scheme where under the rule of the Bretton Woods institutions is forced to privatize parts of its economy to entities reluctant to the creation of economic growth but to the maximization of their short-term profit ,
Flashmag ! Issue 133 September 2022
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