Japan s corporate zombies were at the epicenter of its first lost decade in the 1990 s. Sclerotic companies were put on life support credit lines by their zaibatsu like banking partners delaying their inevitable failure and perpetuating inefficiencies and disincentives that resulted in a post bubble collapse in Japanese productivity growth.

Despite its frequent economic booms, Asia is also a strategic and security minefield. A sclerotic, atavistic, nationalist, and inward looking Japan can only aggravate the situation.

Europe cannot escape the need to scale back its sclerotic welfare states. By recognizing that, and implementing the following series of mutually reinforcing policies, the continent can move beyond its current torpor.

The government failed to prevent the crime, then failed again when its unresponsive, inefficient, and crooked police force was unable to respond appropriately. A wholly moribund and sclerotic administration simply did not know where its duty lay.

Some of the lessons about the need for prudential regulation of the financial system were lost in the Reagan Thatcher era, when the appetite for massive deregulation was created in part by the flaws in Europe s social welfare model. Those flaws were reflected in yawning fiscal deficits, regulatory overkill, and a lack of economic dynamism that led to sclerotic growth then and the eurozone s sovereign debt crisis now.

As individuals in such regimes ascend the hierarchy, patronage and risk aversion become the most critical factors in determining their chances for promotion. Consequently, such regimes grow increasingly sclerotic as they select leaders with stellar resumes but mediocre records.

Growth

Growth.

And it became ever clearer that economic growth doesn't automatically translate into social growth or human growth.

Austere Growth?

Demographic growth

Spike growth

Growth rate ( )

GDP growth

Annual growth

producing growth.

This implies, in particular, very elaborate growth techniques and optimized growth conditions.

This structure contrasts with the pre 1980 business cycle, which rested on wage growth tied to productivity growth and full employment. Wage growth, rather than borrowing and financial booms, fuelled demand growth.

Growth was negative.

First, population growth.

Second, economic growth.

That's called growth.

China s Growth Secret

Inspiring Economic Growth

Mexico s Growth Problem

China s Growth Challenge

Missing Growth Multipliers

Making Growth Green

India s Growth Crossroads

Safeguarding Asia s Growth

Diet and Growth

Nutrition for Growth

GROWTH with accountability

Population growth (annual ) ____________

Total growth rate

(Growth per annum)

(f) Population growth

Projected population growth

Low growth scenario

LDCs Growth rate6

Recent growth performance

A. Overall growth

A. Economic growth

Growth industries are those, which benefit from new sources of dynamic industrial growth.

Growth is an important poverty reducing force, and trade is the engine of growth.