Key Factors for Economic Success in Industrial Nations: A Statistical Analysis

Author: Margolis, Lawrence
This work investigates the factors that have enabled some industrialized nations such as the United States, Sweden, and Japan to have more successful economies than others like South Korea, Greece, and Portugal. This rigorous statistical analysis yields numerous unexpected results.


“Margolis’ book is an important work in the study of economic development. Its objectivity, its extensive use of statistical data and testing, and its willingness to question established ideas make it a useful addition to the library of any reader with an interest in this subject.” – William L. Beatty, Assistant Professor of Economics, Tarleton State University

“. . . Professor Larry Margolis debunks many theoretical and pervasively held views about what influences a nation’s economic success. In an extensive study of the characteristics of the world’s wealthiest nations, [the author] tests numerous hypotheses relating economic success as measured by GNP per capita to national attributes such as trade balances, degree of unionization, extent of social welfare programs, population size and the percentage of college educated publics.” – Dr. Roslyn L. Simowitz, Associate Professor of Political Science, University of Texas, Arlington

“Because Dr. Margolis relies on simple correlation analysis, rather than more complex causal modeling and other advanced statistical techniques used by economists, the reader is more able to see how a social scientist begins to empirically examine an important political and economic question.” - Barry L. Price, Professor, Social Science Department, Tarleton State University

Table of Contents

Foreword by Professor William L. Beatty
1. Introduction
2. Natural Resources: Population
3. Sectors of Production
4. Trade
5. Ideology and its Effects in Economic Success
6. Education, Research and Development
7. Unemployment
8. Inflation
9. Consumption versus Investment
10. Budget Deficits
11. Taxation
12. Social Welfare
13. Defense
14. Labor Unions
15. Culture