Econ 14 Files
Econ 14 Lecture
Notes
Lecture 17: Why Are Some Countries So Rich and Others So Poor?
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Economics 14 |
Lecture 17: Why Are Some Countries So Rich and Others So Poor?
characteristics of rich nations
characteristics of poor nations
Characteristics of Rich Nations
- stable democratic governments with a rule of law and respect for political, civil, and economic rights
- capitalist
- committed to free trade
- lots of investment in capital goods
- well educated workforce with a long life expectancy
- located away from the equator
- well developed transportation and communication systems
Characteristics of Poor Nations
- dictatorships or ex-communist governments
- involved in wars, revolutions, and coups
- export lots of raw materials
- located near equator
- rapid population growth
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David A. Latzko Business and Economics Division Pennsylvania State University, York Campus office: 13 Main Classroom Building phone: (717) 771-4115 fax: (717) 771-4062 e-mail: web: www.yk.psu.edu/~dxl31 |
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