ECON 2020 Lecture Notes - Lecture 5: Rent-Seeking, Natural Resource
Document Summary
Current event real gdp at an annual rate seasonally adjusted. 2015 q4: grew at . 7: q3: 2, q2: 3. 9, 2015 as a whole 2. 4% Natural resource paradox (the source of the nations wealth) World bank: 2013 gdp per capita , natural resource share of gdp. Gdp per capita natural resource share: norway ,010 / 10. 93, qatar . 210 / 34. 60, switzerland . High income countries on average was ,314 / 1. 36% Low income countries on average was / 20. 92% World banks measure of a nations wealth: 1) produced k(capital) - value of infrastructure roads buildings everything, 2) natural k(capital) - natural resources (all known reserves and current production, 3) intangible k - Human k - measure the value of the individual people (education, specializations, experiences = monetary value) Friday, january 29, 2016: low income: total wealth ,730 / produced k 14% / natural k 34. 4% /
