A group of 30 member countries that discuss and develop economic and social policy. OECD countries are democratic countries that support free market economies. |||The OECD has been called a think tank, monitoring agency, rich man's club and unacademic university. Whatever you want to call it, the OECD has a lot of power. Over the years, it has dealt with a range of issues, including raising the standard of living in memeber countries, contributing to the expansion of world trade and promoting economic stability.