Economic Policies and Economic Change

Introduction In the past fifty years, Austria has undergone a transformation; initially a “poorhouse,” it has become one of the most prosperous nations in Europe. This change — measured as gross domestic product (GDP) per capita — shows that Austrian economic policy has been able to find, generally speaking, the right answer to its many domestic and international challenges. Without a drastic change of course in its economic policies in the mid-1980s, this positive development in Austria woul..