OECD Home › Economy › By Country › United States
The US innovation system has many strengths, including world class research universities and firms that thrive in innovation-intensive sectors.
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, according to OECD's latest Economic Survey of the United States.
Strengthening education outcomes and innovation and putting public finances on a sustainable path would increase potential economic growth in the United States and, insofar as reforms increase equity in education opportunity and consolidation measures are progressive, reduce economic inequality.
List of OECD Economic Surveys of the United States
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
A heated debate between Princeton University economist Paul Krugman and Harvard economic historian Niall Ferguson was a highlight of the 11th World Knowledge Forum*-held in Seoul, Korea from 12-14 October-and among the conference's most attended sessions.
The United States faces challenging budgetary prospects, as do most other OECD countries. The federal budget deficit widened considerably during the recession, reaching about 10% of GDP in both 2009 and 2010, reflecting the operation of automatic stabilizers and the policy response to the crisis
The consensus view of scientists is that the build-up of greenhouse gases (GHG) in the atmosphere is causing global warming. To reduce the probability of severe climate change impacts and costs occurring, global GHG emissions need to be reduced substantially over coming decades.
Supported by substantial stimulus measures, the US economy has started to grow again after the economic crisis but Mr. Gurría argued that efficient spending would be key to strenghten public finances. In this respect, the recent health-care reform, which includes measures to reduce the growth in health-care spending, is an important landmark, Mr. Gurría stated.
The US economy is slowly recovering from the severe recession caused by the financial crisis. While monetary and fiscal support remains essential in a context of high unemployment, the focus will subsequently need to shift to reducing the large budget deficit and reversing the rise in public deb