the wealth of nations predicting economic growth
TRANSCRIPT
The Wealth of NationsThe Wealth of Nations
Predicting Economic GrowthPredicting Economic Growth
*All data from CIA World Factbook 2001, w*All data from CIA World Factbook 2001, www.odci.gov.ww.odci.gov.
11stst Place - COUNTRY E Place - COUNTRY E
Name of country: SingaporeName of country: Singapore Population: 4,300,419Population: 4,300,419 Per capita GDP: $26,500Per capita GDP: $26,500 Life expectancy: 83.35 yearsLife expectancy: 83.35 years Literacy rate: 93.5%Literacy rate: 93.5% Infant mortality rate: 3.62/1000Infant mortality rate: 3.62/1000
*All data from CIA World Factbook 2001, w*All data from CIA World Factbook 2001, www.odci.gov.ww.odci.gov.
22ndnd Place - COUNTRY B Place - COUNTRY B
Name of country: JapanName of country: Japan Population: 126,771,662Population: 126,771,662 Per capita GDP: $24,900Per capita GDP: $24,900 Life expectancy: 80.8 yearsLife expectancy: 80.8 years Literacy rate: 99%Literacy rate: 99% Infant mortality rate: 3.88/1000Infant mortality rate: 3.88/1000
*All data from CIA World Factbook 2001, w*All data from CIA World Factbook 2001, www.odci.gov.ww.odci.gov.
33rdrd Place - COUNTRY A Place - COUNTRY A
Name of country: ArgentinaName of country: Argentina Population: 37,384,816Population: 37,384,816 Per capita GDP: $12,900Per capita GDP: $12,900 Life expectancy: 75.26 yearsLife expectancy: 75.26 years Literacy rate: 96.2%Literacy rate: 96.2% Infant mortality rate: 17.75/1000Infant mortality rate: 17.75/1000
*All data from CIA World Factbook 2001, w*All data from CIA World Factbook 2001, www.odci.gov.ww.odci.gov.
44thth Place - COUNTRY D Place - COUNTRY D
Name of country: RussiaName of country: Russia Population: 145,470,197Population: 145,470,197 Per capita GDP: $7700Per capita GDP: $7700 Life expectancy: 67.34 yearsLife expectancy: 67.34 years Literacy rate: 98%Literacy rate: 98% Infant mortality rate: 20.05/1000Infant mortality rate: 20.05/1000
*All data from CIA World Factbook 2001, w*All data from CIA World Factbook 2001, www.odci.gov.ww.odci.gov.
55thth Place - COUNTRY C Place - COUNTRY C
Name of country: NigeriaName of country: Nigeria Population: 126,635,626Population: 126,635,626 Per capita GDP: $950Per capita GDP: $950 Life expectancy: 51.07 yearsLife expectancy: 51.07 years Literacy rate: 57.1%Literacy rate: 57.1% Infant mortality rate: 73.34/1000Infant mortality rate: 73.34/1000
*All data from CIA World Factbook 2001, w*All data from CIA World Factbook 2001, www.odci.gov.ww.odci.gov.
LONG-TERM ECONOMIC LONG-TERM ECONOMIC GROWTHGROWTH
High investment levels in physical and human High investment levels in physical and human capitalcapital
Greater economic freedom, including lower taxes, Greater economic freedom, including lower taxes, fewer government regulations, sound monetary fewer government regulations, sound monetary policy, protection of property rights, and policy, protection of property rights, and decentralized decision-making in most sectors of decentralized decision-making in most sectors of the economythe economy
Strong incentives to save, invest, and increase Strong incentives to save, invest, and increase productivity (including property rights)productivity (including property rights)
Competitive marketsCompetitive markets Low inflationLow inflation Political stabilityPolitical stability Free tradeFree trade
*All data from CIA World Factbook 2001, w*All data from CIA World Factbook 2001, www.odci.gov.ww.odci.gov.
Economic Freedom 2002Economic Freedom 2002
1.1. Hong KongHong Kong2.2. SingaporeSingapore3.3. New ZealandNew Zealand4.4. EstoniaEstonia5.5. IrelandIreland6.6. LuxembourgLuxembourg7.7. NetherlandsNetherlands8.8. United StatesUnited States9.9. AustraliaAustralia10.10. ChileChile11.11. United KingdomUnited Kingdom12.12. DenmarkDenmark13.13. SwitzerlandSwitzerland14.14. FinlandFinland
144.144. YugoslaviaYugoslavia145.145. BurmaBurma146.146. SyriaSyria147.147. ZimbabweZimbabwe148.148. BelarusBelarus149.149. UzbekistanUzbekistan150.150. TurkmenistanTurkmenistan151.151. IranIran152.152. LaosLaos153.153. CubaCuba154.154. LibyaLibya155.155. IraqIraq156.156. North KoreaNorth Korea
LOWEST LEVELSHIGHEST LEVELS