Peter Webster Chapter 13 Question 6

Human capital and money are clearly very important in creating and maintaining a successful economy, but they are much more important in a failing economy. By failing economy I am referring to countries like Ghana, Chad, Haiti, etc. Bringing human capital and money to these countries may really develop the economy. It will bring innovative ways to do things, increasing the productivity. With money, technology and equipment will be purchased. Since a lot is done through human labor in poor countries, productivity would be increased tremendously using machines. If people are coming from a country with a successful economy they could bring ideas to other countries to help develop another economy. Bringing education and basic medical supplies would decrease a lot of illness and increase human capital, leading to jobs.