Growth Archives - Big Economics

The Countries Most and Least Affected by the 2008 Financial Crisis

By Vitaliy Novik, PhD

Of 198 Countries, compared on the percentage change in GDP between 2007 and 2009, the most impacted countries are predominantly Eastern European and trade-dependent advanced economies. The most affected countries…

Soviet Union Propaganda To Shape Values of Society

Culture and Economic Development

By Vitaliy Novik, PhD

A serious consideration of why some countries are economically developed and others aren’t, must include culture. Culture refers to how a nation’s citizens view work, family relationships, the government, other…

Covers of Why Nations Fail and Guns Germs and Steel

Guns, Germs, and Steel vs Why Nations Fail

By Vitaliy Novik, PhD

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

By Vitaliy Novik, PhD

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

By Vitaliy Novik, PhD

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?

By Vitaliy Novik, PhD

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…