Clusters and Economic Policy: Aligning Public Policy with the New Economics of Competition

Format:Print
| Language:English

Abstract

The fundamental goal of economic policy is to enhance competitiveness, which is reflected in the productivity with which a nation or region utilizes its people, capital, and natural endowments to produce valuable goods and services. High and rising productivity, measured by the value produced by a day of work, determines the level of wages that a nation can sustain and its standard of living in the medium and long run.