On a long-term assessment, the economic situation in the industrial countries has grown more difficult. Unemployment is higher than it was in the 1960s, while growth both in the economy as a whole and in productivity is now slower. High labour costs are frequently cited as the underlying cause...

There is a commonly held notion that higher fixed investment allows one to have it all — a higher labour productivity, a higher wage growth and higher or at least sustained returns on capital. However, experience shows that capital accumulation has led to a decline in total capital...

Yugoslavia laid the legal foundations for capital investments by foreign firms in 1967. It was the first socialist country to permit foreign investments and apart from Roumania and Hungary is still the only one which has done so. Prerequisites have thereby been provided for very close relations...