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Thread: Basic Economics

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    Default Basic Economics

    So, the countries in Eastern Europe are poorer because they don't sell as much goods, produce as much goods or...?

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    ШИПТAP Sturmgewehr's Avatar
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    Production and Export are only 2 variables why those countries are poorer, there are other variables that add to it.

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    Quote Originally Posted by Libre View Post
    So, the countries in Eastern Europe are poorer because they don't sell as much goods, produce as much goods or...?
    It's because they used to be much poorer in comparison to Western nations when they had socialist economies. Compare the economy of Eastern Germany with that of its Western counterpart and you'll get the idea.

    Aside from purely economic factors there are also some sociological ones worth considering, like work ethic. (Protestant work ethic comes to mind etc.)

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