Economic Geography - Economic Geography A Crash Course Umm...

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Unformatted text preview: Economic Geography A Crash Course Umm … but how did they come to these conclusions? Economic Development What is a good way to measure economic What power? power? GDP? GDP per capita? Life expectancy? Some other way? Google Gapminder Clicky clicky! Clicky (from tools.google.com/gapminder) (from How Economies Don’t Grow How We Know Economies Don’t Grow Foreign Aid War (either winning it or losing it) Economic Protectionism Raw Materials Foreign Aid We ask the French for money. We get it, and then we waste it. -Jean-Bédel Bokassa War Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. The world in arms is not spending money alone. It is spending the sweat of laborers, the genius of its scientists, the hopes of its children.... This is not a way of life at all, in any true sense. -Dwight D. Eisenhower Foreign Protectionism 1998 Moskvitch 1500 Limited Edition (!) A Russian joke: Q: How do you double the value of a Moskvitch? A: Fill it with gas! Raw Materials Hong Kong – without natural resources Luanda, Angola – with a huge concentration of natural resources How Economies Do Grow Effective Government Institutions (No Effective corruption) corruption) Property Rights No Excessive Economic Regulation Human Capital Openness to Trade Democratic Institutions Some General Statements Corruption http://www.transparency.org/policy_researc h/surveys_indices/cpi/2006 General Statements, II Are countries generally wealthier or poorer? When do things begin to change? Income Inequality? – Gini Coefficients Cost of Goods Half Gallon of Milk Loaf of Bread Dozen Oranges Chocolate Bar Gallon of Gas Movie Ticket Pair of Jeans 3-lb. Chicken 100 kw of electricity 3- minute coast-to-coast phone call 1900 56 na na 20 na na 540 160 6437 na 1950 16 6 21 2 11 18 240 71 120 104 1999 7 3.5 9 2.1 5.7 19 180 24 14 2 1900: Americans spent 75% of money on food, clothing, shelter Today: 33% on those (they spend more in taxes!) Important Things about Economics Generally, the world is becoming wealthier Due largely to industrialization and Due economic globalization economic Wealthiest Regions: America, Western Wealthiest Europe, Japan Europe, East and South Asia rapidly strengthening, East Africa stagnating or weakening Africa ...
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