More money to the rich
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Economic Development is the result of hard work, risk-taking and monetary investment of Entrepreneurs and the first priority of an Entrepreneur is security in all aspects of life such as security for his family, his assets, his wealth and etc. So therefore security is the first step towards economic development.
The major objectives of state economic policy will vary from state to state. Most state economic policy agendas will include; economic development, full employment and price stability, and distribution of income and wealth.
People who are in school learning and who are working in schools are not contributing to the basic economic activities of providing food, shelter and clothing. The more economic development, the more wealth available to support education, which usually results in more education, provided that 1) that wealth is made available to the government by way of taxation so the government can fund education and 2) that wealth is distributed broadly through the population by industry, so a large portion of the population can afford to pay for educational facilities and to support students.
National wealth refers to the total value of a country's assets, including natural resources, infrastructure, human capital, and financial assets, minus its liabilities. It is important because it reflects the economic health and potential of a nation, influencing its ability to provide for its citizens, invest in development, and sustain economic growth. High national wealth can lead to improved living standards, social services, and resilience against economic shocks, while low national wealth may hinder a country's progress and stability.
The distribution of oil in the Middle East has played a significant role in shaping the region's development by creating wealth and influencing political dynamics. Countries with abundant oil reserves have experienced economic booms, but also faced challenges with resource dependency and wealth inequality. The control and access to oil resources have been closely tied to regional conflicts and geopolitical interests.
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The discovery of vast oil reserves in the Middle East significantly transformed the region's economies. Countries like Saudi Arabia, Iraq, and the United Arab Emirates experienced rapid economic growth and development due to oil exports, leading to increased wealth and investment in infrastructure. This reliance on oil has also created economic challenges, including vulnerability to fluctuating oil prices and the need for diversification. Overall, oil has been a central driver of economic change and geopolitical influence in the region.
Gilded Age
The discovery of oil has significantly transformed the economies of many countries, particularly in the Middle East and parts of Africa and South America. It often leads to increased foreign investment, job creation, and infrastructure development, boosting overall economic growth. However, it can also result in economic volatility, dependency on oil revenues, and challenges such as corruption and environmental degradation. Additionally, countries may face the "resource curse," where wealth from oil does not translate into broader economic benefits for the population.
Technological development brings economic growth. However it also enhances social wealth on the one hand by increasing the income levels and wealth and causes certain social problems on the other hand. Technological development makes very important contributions to the economic and social-cultural life.
The totals means aviable for economic and political development, such as mineral wealth, labor force, plants , armaments and raw materials.
This has to do with the global reduction of economic funds or money in a state. It has affected countries like Nigeria because of the large number of people who have no link to the economic wealth of our nation and also the high amount of illiterates and money embezzlers in the nation.
Economic Development is the result of hard work, risk-taking and monetary investment of Entrepreneurs and the first priority of an Entrepreneur is security in all aspects of life such as security for his family, his assets, his wealth and etc. So therefore security is the first step towards economic development.
Alice Hanson Jones has written: 'Wealth of a nation to be' -- subject(s): Economic conditions, Wealth, History 'Family spending and saving in wartime' -- subject(s): Cost and standard of living, Economic aspects, Economic aspects of World War, 1939-1945, Income, World War, 1939-1945 'Wealth estimates for the American middle colonies, 1774'
The major objectives of state economic policy will vary from state to state. Most state economic policy agendas will include; economic development, full employment and price stability, and distribution of income and wealth.
North America is often considered the second richest continent in terms of wealth and economic development, with countries like the United States and Canada being major contributors to its wealth.