Econ 114-Lecture 14

Econ 114-Lecture 14 - Econ114 Lecture14 Announcements...

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Econ 114 Lecture 14
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Announcements PSET 6 due next class This week covers Chapter 12 No OH tomorrow
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Road Map Proximate causes of income differences Factor Accumulation Capital savings Labor population growth years of education Factors of productivity technology efficiency unused resources and misallocation
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Fundamentals What are the deeper factors that make countries  unequal? Government actions (poor= bad govt) Inequality ( poor = more unequal) Geography (poor= bad luck)
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Governments Compare two countries that are identical in all  aspects by government.  Korea  was divided at the 38th parallel in accordance  with a UN arrangement, to be administered by  the Soviet Union  in the North                      and The united states  in the South. 
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Korea (and Germany) S. Korea was a miracle and N. Korea was a  disaster (despite an initial advantage in industry  and natural resources). Food shortages were prevalent in 2000 in N. Korea.
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Econ 114-Lecture 14 - Econ114 Lecture14 Announcements...

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