Thirty years of traveling the world have convinced me that growth is the answer. Economic growth is the only reliable engine for lifting people out of poverty and improving their lives. Access to capital, along with the people’s focused productive energies, are the principal drivers of growth.
Capital comes in many forms; modern equipment, efficient factories, new technologies, high-speed communications networks, and improved education. All represent the stored energy of previous generations of investors, innovators, entrepreneurs, and workers. All make workers more productive, increase output, and provide the resources for people to achieve their economic, personal, and social goals. Incentives for creating capital and for the productive use of energy are the keys to increased growth.