Which countries and what resources are lacking, also what is the effect?
2007-10-09 04:48:58 · 7 answers · asked by Liz Bat 1 in Politics & Government ➔ Other - Politics & Government
Mainly they lack a good government.
Prosperity requires certain conditions.
Respect for property rights. There is no investment in a country if property rights are violated by the government. In fact, there will be a flight of capital from that country, increasing its poverty.
Rule of law. Investment and business and trade is difficult if the rules change at the whims of government. Businesses and capital do not feel comfortable without a rule of law, and will hedge by moving to locations that offer more stability.
Free market. The free market is the only method where resources get allocated to the most productive sector of industry. Only when people are free to trade and conduct business and get wealthy can progress and prosperity occur.
Zimbabwe is a good example of what happens when these necessary conditions are violated.
2007-10-09 05:17:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Most of all they lack cultural capital. They can be rich in resources and still poor. But if a resource-poor country like Ireland has cultural capital, they won't stay impoverished.
2007-10-09 11:53:20 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Discipline! Japan has no resources whats over and is the second richest country in the world.
2007-10-09 12:04:26 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Hard Workers, reliable and business-friendly legal environment.
2007-10-09 12:04:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Freedom and free enterprise.
2007-10-09 12:03:28 · answer #5 · answered by regerugged 7 · 0⤊ 0⤋
water, food basic necessities of life
2007-10-09 11:56:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
MONEY... once they have that, they can buy anything else they need.
2007-10-09 11:57:03 · answer #7 · answered by Anonymous · 1⤊ 0⤋