Why Do Some Countries Get Richer Than Others?

Imagine two neighbors: one has a big garden, lots of tools, and good weather, while the other has little space, old tools, and bad weather. The first neighbor can grow more food and get richer over time. That’s like how some countries become wealthier than others, they have better resources and opportunities to grow.

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Examples

A child who gets a new toy every year grows up with more stuff than one who only gets a toy once in a while.
A farmer with good land and tools can grow enough food for his whole family, while another farmer with poor soil struggles to feed even himself.
A country that builds roads and schools has better chances of growing rich than one with broken roads and no education.

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