Monday, November 30, 2015

Christen Majors, Chapter 13

Unfortunately poor countries can be "caught in a human capital trap." Skills make an economy sucessful and skilled workers need other skilled workers inorder to be fully sucessful. In a population with few skilled workers they can find they are less productive. Because human capital trumps resources every time and we are unable  to ship huge quantities of human capital to poor countries. I drover to break this cycle or alleviate the cycle trade is very important and a in order for it to be most effective a country needs to have an open economy.

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