4 Reasons Why Some Countries Are Rich And Some Are Poor

Rate this post
4 Reasons Why Some Countries Are Rich And Some Are Poor

We all know that most of the people in the subcontinent and the countries of the countries in the subcontinent are struggling they don’t have that amount of wealth to fulfill the needs of their public and the general public which are living in those countries on the contrary when you look at the European side they are driving through excellence for example countries like Australia Canada and European countries like UK they are striving to excellence and there is a law and order in these country.

Reason No 1. Geography: A Nation’s Natural Environment Shapes Its Wealth

The people in the world right now they don’t know about geography which basically means the structure and the climate and the environment in which the countries are placed there are totally different.

1.1. Access to Natural Resources

The natural resources play a very important role in the making or breaking of the country for example if a country is producing oil at a very large scale the country can become very rich if it has the machinery and the mindset and the government that is going to make them rich.

Natural resources such as oils and gold and something like that makes a huge difference in the success of the country.

1.2. Climate and Agriculture

Climate change is very critical problem that every country is facing right now because of the global warming and the factories the smoke that the factories produce it has also impacted the climate change on a very large scale so if the government is that much vigilant enough to know the problem and provide a solution to the country definitely the country can take a rise.

1.3. Geographic Isolation and Trade Access

Geographic isolation has also a very critical thing to do for example in 19 people have take some isolation steps which I’ll become handy in most of the countries.

You Might Like:

Reason No 2. Institutions: The Backbone of Economic Development

Economic development depends upon the investment because when investing companies do in your company for example a company like Microsoft has invested something in your country definitely you will become a force to reckon with.

2.1. Rule of Law and Property Rights

The rule of law and the property is very important what is the meaning of rule of law everybody is equal in the eyes of law and the property rights are safe what do you mean by property rights when everybody has the right to make property and the security of the property is mounting about the shoulders of the government if anything happens to the public property the conversation should be given to the public.

2.2. Government Stability and Policy

Policy of the government depends upon the strategies of the public interest what are the things that they need to do what are the things that they need to form in generally.

2.3. Corruption and Its Impact

Corruption is the first hurdle in the success of a country and in the downfall of the country of the ministers and the government and the judges are corrupt they will leave their negative impact on the society everybody will get frustrated everybody will run away from the company everybody will run away from the country as well.

Reason No 3. Human Capital: Education, Skills, and Health

Education and scale and health goes hand and hand if education is higher and the skills are given to the general public definitely they will contribute in the JDP of the country.

3.1. Education and Skills Development

Education and the development skills should be given to the public should be going to the use of the country should be given to them so that they can use it for their benefit only.

3.2. Health and Life Expectancy

Life experiences of your life and the health of yours are the very important things to do so if you are health is getting decrease and your life experience are getting harder definitely it will make you frustrated and anxious about the life that you have.

3.3. Innovation and Technology

Innovations and technology should be made in a country for example if your country is struggling in the field of technology you have to get up the engineers and the IT expert and the people who are living in your country give education to the huge and do something in the public platform in the field of IT.

Reason No 4. Culture and Social Norms: The Hidden Drivers of Wealth

The social pressure and the social norms that are made in our country there are very disgusting for example if there is a norm that the education should not be given to a girl then definitely it will impact the whole nation and the country on a very large scale.

4.1. Work Ethic and Productivity

Cultures that emphasize hard work, discipline, and long-term discipline should be needed when it comes to your productivity productivity is a lifestyle and work ethic is the fuel of that lifestyle.

Work ethic basically means got takes basically means how much time on effort you can put in your life and the goal that you have in your mind if you are struggling to put any kind of work at taking your goal you are not going to be successful as much.

4.2. Trust and Cooperation

Trust is the basic ingredient and the cooperation of other people in your lifestyle should be there if you have a trust factor with the people that you are living in definitely it will make sure that you are getting success.

4.3. Social Mobility

Social mobile is also a very important ingredient in your lifestyle social ability means the fiber in the society and how the world is distributed in this society on a very larger scale.

Conclusion: The Interplay of Factors

While geography, institutions, human capital, and culture all play significant roles in determining a nation’s wealth or poverty, it’s the interplay of these factors that ultimately shapes the economic destiny of a country.

You can load we can say that in a play factors of the country and the world plays a very important role so if you are struggling when it comes to climate change and environment you have to make some board steps as a government designation as a country that you don’t damage any kind of natural resources for your country for example ozone layer and climate change and global warming is increasing so you have to make sure that you are making some steps to decrease the damage.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *