Note: This is post #79 in a weekly video series on basic economics.
Why are some countries rich and others poor? There are various factors that interact in a dynamic and changing environment. And the final answer to the puzzle differs depending on the perspective you’re looking from, says Alex Tabarrok of Marginal Revolution University. In this video, Tabarrok examines different pieces of the wealth puzzle to show how they fit together.
(If you find the pace of the videos too slow, I’d recommend watching them at 1.5 to 2 times the speed. You can adjust the speed at which the video plays by clicking on “Settings” (the gear symbol) and changing “Speed” from normal to 1.25, 1.5 or 2.)
Click here to see other videos in the Introduction to Economics series.