Comments on economics, mystery fiction, drama, and art.

Tuesday, June 11, 2013

Generating the Wealth of Nations 33: When Things Don't Go Well

In addition to Libya's boom-and-bust, three nations have had less dramatic booms and significant busts that left them at lower reap GDP per capita than where they started.  Zimbabwe's recent decline is almost certainly related to the horrendous hyperinflation that occurred there in the early part of this century.

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And in four nations, it appears that growth never really got any traction.  In all four of these, real GDP per capita declined fairly slowlt but fairly steadily.  Both Congo/Kinsasha and Somalia have had ongoing civil wars of one intensity or another, which is clearly not good for growth. 

(Click to enlarge.)


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