There was an article in a recent issue of The Economist that is definitely worth your time. The topic is economic development. But the twist on this article is not just size but sophistication. It seems that the complexity of the economy can be a factor in development, as much as size.
The article looks at the joint work of an economist and a physicist, examining the complexity of many of the world's economies. They have developed some fascinating visual models that you can find at this web site.
One of my big takeaways was the spin this puts on concepts like absolute and comparative advantage; and the role of the entrepreneur in economic development. As I stated above, this one is worth reading.
Let me know if you agree or disagree.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment