Why some countries are Richer than Others

As we all know, some countries are far richer materially than others. Two billion people in the world lives on less than 2 dollars per day. 2 dollars is also the UN threshold for poverty.

According to UN and world standards you are not poor if you have more than 2 dollars per day to live on (64 dollars per month). To pay for housing, education, health and food.

Have you ever considered on why countries with huge oil assets are poorer (counting GDP per capita) than the ones without oil?

It should be the other way around, that those with large natural resources got a much richer population than countries with or with small natural resources.

Instead is is almost the opposite we see. Venezuela got the worlds 3:rd largest oil assets in the world. Iran the second largest natural gas assets. A lot of poor people in both countries.

Singapore on the other hand, have no natural resources to speak of. The whole country is almost built out and they only have one border by land towards Malaysia. The rest is coastline.

The economic output for every Singaporean is by average 52 960 dollar. A little more than the the average for a Swede.

Iran:s GDP per capita is 4 683 dollar per year. Less than half of the world average and less than a tenth of a person from Singapore.

How is this possible when Iran:s natural resources are almost infinite and Singapore:s non existent?

Economist have been trying to explain why and the theories are many.

My personal theory is that, in the end its about freedom of speech.

All comparisons point to the fact that the countries with small or limited freedom of speech have a poorer population than countries with an open and allowing freedom of speech.

Freedom of speech allow the media to examine who ever they like, which leads to the politicians/mayors who govern will be examined and must play fair.

That leads to a fair and just court system, making sure no one can put pressure on the courts and judges and the politicians will have to answer to the media.

The courts will judge fairly (tolerably) and wont be affected by politicians and other powerful people.

And when everyone is equal to the law, makes it possible to profit from new ideas and inventions, or develop a service that enrich peoples life's.
Which leads to that companies dare to expand and hire more people and are more willing to pay taxes to the government.

Which leads to more money for the government to strengthen the protection of its citizens and their individual rights.

Companies expanding and hiring gives more people work and more tax revenues for the government. It creates a good spiral of higher and higher economic growth.

You have probably read that i "GDP rises with over 3% this year" or during a recession GDP only rises with 1 %.

The effect of interest on interest gives exponentially higher and higher economic activity and it becomes better and better for countries following the steps.

Freedom of speech ⇒ Free Media ⇒ Independent Courts ⇒ Same laws for everyone ⇒ Companies expand ⇒ Higher economic output.

I believe that countries who haven't nationalized their natural resources as a way to fill their coffers are forced to invest in their own citizens and their inventiveness and knowledge.

Shortly, countries allowing freedom of speech are richer than the ones suppressing it.

It even looks like countries with the most tolerance of freedom of speech enjoys the highest GDP and the countries with the lowest tolerance suffers with the lowest GDP.

Natural resources is in this case many times a bane for the people.

Be grateful for our freedom of speech and that we are not filtered.