Tuesday, April 28, 2015

Rachel Zellie, Chapter 13, Question #6

After reading chapter 13 there was one specific passage regarding government institutions that threw me for a loop. Wheelan was discussing different policies that make the difference between the wealth and poverty of nations one of which was effective government institutions. Wheelan mentions that settlements such as the United States gained institutions that had a positive long-lasting effect on economic growth because these colonies were easy to live in (longer lifespans). In contrast settlements in the Congo did not gain any long lasting institutions because of how difficult it was to live in that area. The settlers sole focus was to extract as much wealth from this colony as possible without spending too much time there. Comparing and contrasting these two different colonies put into perspective how important the actions of the past really are to our future. This example also portrayed how country's economies are affected by outside variables that are not strictly involving the economy. Overall this section produced an "ah-ha" moment for me because if the British had decided against developing in the United States we could have a vastly different or weaker economy.

No comments:

Post a Comment