Why Do Some Countries Get Richer While Others Stay Poor?

Imagine two friends who both start with $10. One friend gets a $2 bonus every day, while the other only gets $1 once a week. Over time, the first friend will have way more money than the second one, just like some countries get richer faster because they grow their economy in better ways.

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Examples

  1. A family in a poor country gets $10 each month, but a rich country’s family gets $200.
  2. One child learns how to read at school, while another has no books or teachers.
  3. A factory worker makes $3 a day, and his neighbor makes $30.

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Categories: Economics · economic growth· poverty· global inequality· development economics· wealth distribution