What Makes Some Countries Wealthier Than Others?

Some countries have more money because they work smarter or longer. Imagine two friends who both save their allowance, one saves all of it, and the other spends half. The first friend has a bigger piggy bank at the end of the year. Countries are like that: some save more, invest better, or grow faster.

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Examples

  1. A country with lots of oil might be rich because people buy their oil.
  2. If a country teaches its kids well, they can grow up to have good jobs and make more money.
  3. Some countries borrow too much money from others and end up struggling.

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Categories: Economics · wealth,economics,global inequality