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Unformatted text preview: Better accounting methods Inventory control Performance based pay & promotion • Institutions Matter (p17) o Institutions provide incentives that affect choice and can thus drive (or inhibit) economic development Stable and limited government Relatively peaceful domestic & international relations Predictable and relatively safe leadership even through change Secure money and banking system Laws establishing & protecting private property rights Incentive for invention and innovation (patent + copyright laws) Facilitate buying and selling Market-oriented economy 18:34 18:34...
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- Spring '10
- Economic Development, long range average, performance based pay, Better accounting methods, output rises