Growth and Renewal in the United States: Retooling America's Economic Engine

Growth and renewal in the United States: Retooling America's economic engine examines America's growth challenge and explains why productivity is such an imperative for rising living standards and national competitiveness. It also dispels some of the myths about productivity, including the notion that there is a necessary trade-off between productivity and jobs. And while some economists suggest that economic growth and technological innovation in the United States have reached a plateau, the McKinsey Global Institute's analysis suggests otherwise. There are enough opportunities to apply best practice across the economy and tap the next wave of innovation to achieve the broad-based productivity acceleration necessary to match, and even surpass, historic GDP growth rates. Finally, the research outlines a seven-point agenda for government and business to address economy-wide issues that today hinder US productivity and growth.