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Rethinking Growth and Revisiting the Entrepreneurial State

While important, economic growth in the abstract is not a coherent goal or mission around which governments should orient their policymaking. The kind of inclusive, sustainable, and robust growth that they want ultimately comes as a byproduct of pursuing other socially beneficial collective ends.

LONDON – From high-level policy debates and political manifestos to everyday news coverage, anxiety about economic growth is everywhere. In Germany, the government’s latest budget identifies stronger growth as a top priority. In India, national leaders are eager to reclaim their country’s place as the world’s fastest-growing economy. In China, where the prospect of deflation looms, the government is undoubtedly worried about hitting its 5% growth target for the year.