This website introduces the concept of the ‘mature economy’ – a way of categorising ‘advanced’ or ‘developed’ economies which implies a need for behavioural change. The concept is taken from the ‘industry life cycle’ model used by business strategists. Mature economies, like businesses in a mature industry sector, need to focus less on top-line growth and more on process improvement as a profit (or ‘value added’) maximisation strategy.
I’m Hugh Small, and I worked for two international management consulting firms as a business strategy consultant for the last two decades of my career (1983-1999). Early in that period I found myself battling the primitive ‘grow or die’ mentality of the larger companies among my clients. It was a mentality which has now practically disappeared from business, but I couldn’t help wondering if it has affected the thinking of inexperienced politicians. I wrote a paper called When businessmen fear growth which suggests that the dangers of a perpetual focus on growth are as serious for developed economies as they are for large businesses. You can download the paper by following the link on the right, and if the contents interest you then come back here to read follow-up articles and comments. You can subscribe by email or RSS to be notified when new material is added.