Why is the wealth of Latin America so much less than the wealth of USA and Canada?
I don't know...but I have ideas to explore...questions to ask.
Could it be the foundation of religion? Latin America Catholic...USA Protestant?
Could it be latitude? South America is located on the equator. Around the world equatorial areas tend to have lower GDP.
Could it be government? There are plenty of problems with Latin American governments...well known...but also they are fragmented into perhaps 20 countries. Better to have one big country...a big free trade zone!
Could it be ethnicity? USA has been largely German and English and Irish. Latin America... Portuguese and Spanish and Native.
And how big is the gap?
it is very big...USA per capita GDP around $55,000. Latin America around $16,000.
OK...another fact...is it babies?
USA percentage of population under 15 is 19%...Mexico percentage under 15 years old is 27%.
that might account for some of the difference...but not all..
Could it be saving and investing?...over the long run a higher rate of saving tends to make you much wealthier if it is invested in productive assets...
anyway...it is worth thinking about and researching...why are some nations wealthier than others?
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