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Lecture 11The Wealth of NationsGrowth Facts-ugly reality-The big break-Only for someBasic growth mathematicsGrowth theory intro-Two observations-ImplicationsWhy some nations are rich, why some nations are poor: the wealth of nationThe numbers on the table: xx out of 1000 peoplesecondary enrollment: going to high schoolLife is basically the same for an average person during thousands of years.GDP Growth 4%real GDP growth 2.2%real per capita: 1.2%Year income Income increase1 50,000 10002 52,020 1,0203 100, 000 1,040.4035Rule of 7058 years of growthGrowth theory introcapital-tools, equipmentlabor-workersland-natural
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