Theoretical Economics (1 Viewer)

[Omium]

I'm no economics buff, but i just have a few questions in the back of my mind.

Is it theoretically possible that all countries in the world will be "developed".

Do we "need" poor countries to provide cheap products / cheap labour?

 

[WannaBang?]

no, but we get stuff for cheap.

imagine having to pay $500 for a pair of shoes.

 

[blue_chameleon]

Interesting question. I was thinking pretty much the same thing today.

When the developed countries all 'develop', who lags behind? If nobody, what effects will this have on the global economy?

 

[LordPc]

im guessing, but in theory i think that things would be fairly even every country had a stable government and there was free trade globally.

but ive always thought that some regions, ie north america and europe, will always be ahead and have the latest technologies and such while other regions, like africa, will always to a certain extent be lagging behind.

and for me this means that in perhaps 300-400 years time, africa will have living conditions similar to what we have now here in australia, while other countries like america will be ahead by heaps, have cures for cancer and such

also keep in mind that one of the reasons china is so powerful is because they have a massive workforce. without all that manpower, they would be less productive. so some countries rely on the ability to provide cheap labour

 

[rant]

developing country is a euphimism for countries that won't develop

 

[SAVAK]

economic political warfare would not allow all countries to develop.