The OECD is an acronym for the Organisation for Economic Cooperation and Development. Essentially, the OECD is a united front for countries to share about their common eco-social problems, as well as collaborate on finding solutions. The organization was founded to boost world trade and economic progress.
The Organisation for Economic Cooperation and Development is an economic organization that was founded in 1961. It was developed from the Organisation for European Economic Cooperation in the year 1948. The OECD founders consist of European countries of the OEEC plus the United States and Canada. The official OECD founders are Austria, Belgium, Canada, Denmark, France, (West) Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom, and the United States.
There are currently thirty-four member countries from all around the world, and they have all joined the OECD as a sign of their commitment to the market economy and personal democracy.
Most of the countries that are members of the OECD are developed countries that have a high-income economy. These countries use the OECD as their platform to develop best practices, coordinate their numerous policies, and find answers to common issues by engaging with fellow countries with similar issues at hand. The headquarters for the organization is located in Paris, France. Funding for the Organisation for Economic Cooperation and Development stems from contributions made willingly and generously by the OECD’s thirty-four member countries.
Then, twelve years after the OECD became an official operating organization, four other countries joined the group. These four countries include…
- New Zealand
Over time, many other countries began to recognize the benefits of the Organisation for Economic Cooperation and Development. It’s hard to think any country could view the OECD as anything other than an incredibly beneficial attribute to their community. From providing countries with a platform for talking about issues that other countries relate to, and just being an amazing support system, to everything else in between, the OECD is very similar to a friend group, but for countries.
Even farther down the road, more and more countries started recognizing the incredible perks of being an OECD country. Throughout the 1990s and up until the year 2000, additional countries opted to join the Organisation of Economic Cooperation and Development. The most recent countries to become part of the OECD are...
- The Czech Republic
- South Korea
All OECD countries are on an equal playing field, despite the year during which they joined the Organisation of Economic Cooperation and Development. Here is the combined list of the member countries.
The Organisation for Economic Cooperation and Development is currently comprised of thirty-six states, all of which speak English and/or French, so these are the official languages of the OECD. A very beneficial aspect of the Organisation of Economic Cooperation and Development is that the OECD helps member nations figure out how to properly handle funding, budgeting, and other monetarily involved parts of running a nation. The payroll and income tax chart is one example of how the OECD helps countries stay on top of economic growth and responsible use of money.
The chart takes into account three variables, including employer taxes, employee taxes, and income tax of the individual countries. Taxation is something that the OECD focuses on in its many publications. Other forms of published materials include statistical reports, reference books for member countries, and books on various economic topics. It can be quite difficult for countries to function on their own. Think about it like this. With a group of countries that share similar aspirations, intentions, and principles, there is a greater chance of unity among countries, which is important for a harmonious world. The support that these countries receive from the other members of the OECD enhances the confidence of the leaders of OECD countries.
There are four flagship books that the OECD has released over the years. Similar to meetings and discussions held by the OECD, the books that this organization authors and distributes are written in English, as well as an alternative French edition of the same text. Something very fascinating about the OECD authored books is that they are produced on a reliable printing schedule. One text, called the OECD Economic Outlook, is published biannually.
The Main Economic Indicators is also an OECD book, but instead of twice a year, the OECD releases new content under this title every single month. If this sounds like the publication system that magazines operate on, then you are absolutely correct. But this just happens to be a collection of month-to-month data that encompasses statistics regarding the organization's member nations. The two other books that the OECD releases on an annual basis include the OECD Internet Economy Outlook and the OECD Communications Outlook. The countries that make up the Organization of Economic Cooperation and Development reference these titles, but the texts are also available to the public.
The reason for the OECD's emphasis on statistical reporting and advice is that the Organisation is a statistical agency. This means that the OECD reports on statistics and informs member nations of the findings. Doing so enables countries to reflect on what has transpired and review different numerical factors, like education rates, healthcare affordability, population sizes, life expectancy ages, budgeting, spending habits, and other variables relating to the economy of each OECD country. OECD countries essentially receive a helping hand from the council of officials who facilitate the decisions and the statistical publications of the OECD.