Organization for Economic Development and Cooperation - Explained
What is the OECD?
Written by J. Mance Gordon
Updated at April 21st, 2024
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What is the Organization for Economic Co-operation and Development?
OECD (The Organisation for Economic Cooperation) consists of 34 member states. These states are responsible for designing and managing economic related social policy to improve economy related operational activities. OECD associated states are democratic states. They are advocates of free trade and support for open market economics for all the countries.
What does the Organisation for Economic Co-operation and Development Do?
OECD (The Organisation for Economic Cooperation and Development) is a think tank with the responsibility of monitoring the progress of economic activities globally. Some of its core responsibilities and goals include the growth in economic development, providing a mechanism to fight against poverty and to increase the cooperation among OECD nations. OECD also evaluates the environmental influence of economic growth and the phases of social development.
The OECD was established on 14 December 1960.