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Russia has all this and its GDP per capita is one quarter ours. Not to mention the fall of the Soviet Union, etc. Yeah so "just having resources equals success"
by drzaiusapelord 11y ago
Russia has all this and its GDP per capita is one quarter ours. Not to mention the fall of the Soviet Union, etc. Yeah so "just having resources equals success" is asinine.
Not to mention all the academic research on the success of open markets, low regulation, etc.
- Retra 11y agoRussia doesn't have all that. Russia has half the US population, its territory is largely frozen taiga. That's one of the reason Russia works so hard to maintain dominance over countries like Ukraine, Latvia, Belarus, etc.. They are much more fertile. The US doesn't have to do anything like that. We don't even need foreign oil as much as most countries do.
- bdisraeli 11y agoRussia was also one of the least industrialized countries in Europe in 1900 and had about 27 Million people killed in the Second World War vs about 400 Thousand Americans. This is not a valid comparison.
- twoodfin 11y agoJapan also does pretty well with very little of those innate advantages.
- marcoperaza 11y agoYep. We have the formula for economic and social development: 1) Strong rule of law 2) Political and economic freedom 3) Regulations that focus on reducing information asymmetry. There are plenty of examples: America, Canada, parts of Europe, Chile, South Korea, Japan, Australia, New Zealand. The rapid development of Eastern Europe (particularly Poland) is a great case-study. But this simple truth is a threat to a lot of entrenched interests, who will fight and deny it every step of the way.