What Are The Different Assessments About Economic Growth?

This survey of international economics must acknowledge a mixed picture, with some successes and some failures. But if we step back from the individual issues an impartial jury of historians would surely rate the last century as one of unparalleled success for the countries of North America, Western Europe and East Asia. The jury would point to the following:

The period has seen the most rapid and sustained economic growth in recorded history. It is the only half century since the Industrial Revolution that has avoided a deep depression, and none of the major industrial countries suffered from the cancer of hyperinflation.
Having learned the dangers of protectionism in the 1930s nations have joined together in multinational trade treaties and agreements to desist from imposing trade restrictions. The latest of these was the Uruguay Round, completed in late 1993, which extended the principles of free and open trade to new sectors and new nations.  

You often hear that imitation is the sincerest form of flattery. In economies, imitation occurs when a nation adopts another nation's system of organization in the hope that it will produce growth and stability.