Geog 6_1

Geog 6_1 - Geography 6: World Regions Lecture 1 Notes...

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Geography 6: World Regions Lecture 1 Notes – Economic Differences and the Wealth of Nations Location of a country greatly influences wealth of a nation- if they can afford medical care etc.; annual income of developed nations eg. Japan, Australia, U.S. ~4x that of developing ones eg. Haiti, some small (SE?) Asian countries Netherlands– disadvantages o Long, cold winters; hard to farm o No natural resources o Invaded by Germany in past o 1/3 of land area below sea level- danger of flooding Zambia– advantages o Relatively well off vs. other AFN countries o All energy supplied by hydroelectric dams- no need to buy energy o Many natural resources- mineral oil o Warm; good for farming o Democratic- peaceful- no invasions etc. Yet- NED per capita income 100x higher than that of Zambia- illustrates problem of why some countries are rich/poor Economists talk about “good” social institutions that effectively promote wealth in a nation: o Lack of corruption o Rule of law o Unimpeded flow of capital o Open to trade (no barriers) o Control inflation o Ability to exchange currency o Govt. is effective o Protected private property rights o Invest in education o Provide opportunities/incentives to invest $$ o Contracts enforced But also must consider other factors- says nothing about origins of good institutions- why is it so hard to transmit info about them to countries that don’t have them? Neglects role of historical origins; tropical locations; land-locked etc; lack/abundance of natural
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This note was uploaded on 06/24/2008 for the course GEOG 6 taught by Professor Diamond during the Spring '08 term at UCLA.

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Geog 6_1 - Geography 6: World Regions Lecture 1 Notes...

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