In chapter 6 of "Naked Economics" Charles Wheelan teaches us about the productivity and human capital. He shows us there us a strong correlation between a country's level of human capital and economic well being. While there is a weak correlation between natural resources and a good standard of living. Countries like Japan and Switzerland have little amounts of natural resources yet they have a higher per capita income due to higher amounts of human capital that result in large amounts of productivity and wealth. Other countries like Nigeria and Saudia Arabia sit on billion dollar oil fields but the populations standard of living is very low there. The natural resources often corrupt government control and can fuel civil wars. This shows us why human capital and education is so important to succeed as a person and a country.
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