Over time - Overtime, countries.Interestingly, .

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Over time, both productivity and the GDP per capita have increased in industrialized  countries. Interestingly, the productivity and the GDP per capita of these nations have  approached one another over time. This convergence signifies that all industrialized  nations are approaching a common level of prosperity.  Why does this phenomenon occur? Nobody has a complete answer to this question.  The most common explanation for convergence is the constantly increasing speed at  which new technologies spread across international borders. Remember that one of the  keys to increased productivity is technological improvement. When industrialized nations  share technological advances (rather than forcing each country to make them  independently), productivity for each country will tend to move towards a level dictated  by the performance of modern production technology.  Does this apply to all countries? 
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  • Fall '10
  • staff
  • industrialized countries, share technological advances, industrialized   countries., mechanized widget producer, constantly increasing speed, industrialized nations.

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