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Why Rich Countries are Rich and Poor Countries Poor?

Posted by merchantaccount on December 6th, 2017

There are 196 countries in the world. 25 of them are very rich, defined as having an average wealth per person of over 0,000 a year. But far more countries are quite poor, and some are very very poor.

In the 20 poorest countries of the world, the per capita wealth is under a ,000 a year, or under three dollars a day. Every country is now more or less on a path to growth, but the poor ones are growing very, very slowly. If Zimbabwe continues at its current growth rate, it will qualify as a ‘rich country’ in 2722 years.

What we want to know why some countries prosper and others stagnate: – so we can understand what rich countries are doing right- and get a better grip on the challenges and hurdles facing poor countries. There are basically three factors that determine whether a country will be rich or poor.

Institutions are beyond important. Broadly speaking, rich countries have ‘good institutions’ and poor ones have very, very bad ones. The correlation between poverty and corruption is direct. The richest countries in the world are quite simply invariably also the least corrupt ones. And the most corrupt countries are also the poorest.

Half of the wealth of the world’s poorest 20 countries goes into offshore accounts. Lost revenues in these countries total between and billion dollars a year Meanwhile, without an adequate tax base, poor countries can’t invest in police, education, health, transport.

What goes on in people’s minds, their outlooks and beliefs, A striking statistic pops up here in relation to religion. If there’s one generalization you can make about religion and wealth, it’s that the fewer people believe. t

19 of the richest countries in the world have 70% or more of their populations saying religion is not at all important to them. The exception here is – unsurprisingly – the United States, which manages to combine great religiosity with huge wealth and conversely, the poorest nations in the world are also extremely believing ones. In the world’s poorest country, simply everyone is a believer.

Also See: Rich Countries, Poor Countries, Worlds Poorest, Richest Countries, Poor, Countries, Very

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