Guns, Germs, and Steel vs Why Nations Fail
Two Opposing Views The reason why it is primarily Western Europe and her offspring that are the richest countries in the world today is because of the geographic advantages it…
How Economic Growth Works – Everything You Need To Know
The Power of Economic Growth Just 200 years ago, all countries in the world were equally poor, meaning people the world over had identical living standards and possibilities for their…
Human Capital, Economic Growth, and You
When thinking about why some countries are rich and others are not, it’s natural to start by asking: how is output created in the first place? The obvious answer is…
How Does a Country Become Rich?
The Wealth of Nations, by Scottish philosopher Adam Smith, is the most significant work in economic history, earning Smith the title “Father of Economics”. Even to this day, Smith's ideas…
Why Are Some Countries Poor and Others Rich?
Why are some countries so poor, while others continue to grow richer and richer? This question is fascinating and important, both to economists and to the ordinary person trying to…