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Innovation and the World Economy. Robert E. Litan. Four Kinds of Capitalism. Oligarchic (Really Bad) State-Guided (Mixed, but not great for growth at the frontier) Big Firm/Managerial (Incremental, not Radical) Entrepreneurial (Best, but need some Managerial). Growth. No/Low-Growth.

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four kinds of capitalism
Four Kinds of Capitalism
  • Oligarchic (Really Bad)
  • State-Guided (Mixed, but not great for growth at the frontier)
  • Big Firm/Managerial (Incremental, not Radical)
  • Entrepreneurial (Best, but need some Managerial)
slide3

Growth

No/Low-Growth

Mature

Young

absolute numbers
Absolute Numbers

No/Low-Growth

Growth

Mature

Young

impact job growth innovations
Impact: Job Growth, Innovations

Growth

No/Low-Growth

Mature

Young

long term budget outlook
Long-Term Budget Outlook

Note: The alternative fiscal scenario deviates from CBO’s baseline projections even during the next 10 years, incorporating some changes in policy that are widely expected to occur and that policymakers have regularly made in the past.