Saturday, November 30, 2013

Correlation Between per capita Income 1960 and 2008S

One conclusion from this graph is that there is a strong correlation of national per capita income over a half century. Poor countries tend to remain poor, rich countries tend to remain rich.

A second conclusion is that correlation is not destiny. Some of the middle income countries in 1960 became rich by 2008, and some fell into poverty.

Economic development is hard, but possible.

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