Infront of economics mirror

By Arun Dahal Khatri

Can you imagine a torch light with dark rays? Who else uses such light? Unfortunately, most of underdeveloped economies are still using such torch light. Before I enter the content I would like to ask my reader a question. Have you ever read a book called “Why Nations Fail”, or have you ever heard about this book? If not then please read the given paragraph which I have written below.

“The average Egyptian has an income level of around 12 percent of the average citizen of the United States and can expect to live ten fewer years.”

Without taking the economical aspects, how can you differentiate between the United States and Egypt? Most of my readers can tell me that Egypt is an African country with having old history. Moreover, Egypt has a rich culture including the Nile river, including pyramids. But when they got the chance to talk about the USA at first my reader can tell me about the government of the USA they knew that I restrict to use the economical aspects but my readers don't want to lesson me because they know that without taking the economical aspects the elaboration of USA cannot be completed.

In today's world, we are using two types of light. One is bright light and another is dark light. When it comes to Egypt, Nepal, Bangladesh, Congo, North Korea, and other underdeveloped economies then usually we can imagine the dark side of these countries like poverty, corruption, wars etc. But when it comes USA, UK, France, Germany, and European countries most of us think about a better government, better jobs, sound culture, happy lifestyles, etc. Every human being in today's world wants to settle in such a bright economy. But If you come back before 1700 then the situation was totally different. Please read the given paragraph.

“ For over 1700 years (0001 AD - 1700 AD) India was the richest country in the world! while China was in second spot and the USA was the poorest country in the world with GDP's less than 1%.”

The above paragraph was not my research. I have found that fact on the internet but the fact is real and true.I wanna thank that researcher. In fact, the above situation has a direct impact on our content. Before 1700 If you think about bright light then usually our ancestors thought about India, China, and most of the Asian Economy Instead of the USA. The economic cycle is truly adorable. You cannot tell what will be happened after 200 years. You cannot make sure which country will become the example of dark light and bright light after 200 years.

Right now most underdeveloped economies are staying under the shadow of dark light. The fact is dark light itself is a shadow. The main agenda of this content is to make a clear vision to my readers about the world economy. The economy is a changing phenomenon. You cannot say anything for long-lasting in the aspect of the economy. Indeed, in a country like Somalia where the poverty rate is more than 70 percent and the total GDP is less than the total wealth of American Billionaire Jeff Bazos. Well, you cannot say that Somalia will stay in the same condition in near future as well because there are still so many reasons to say that Somalia will become a raising economy or bright light. Please read the given paragraph.

“According to the World Bank Somalia  has 1100,000 hectares of cultivable land and its reservoir of black gold is known to be the second largest in Africa.”Now, I wanna request to my readers please take a minute and think if the system would be well and the government would be responsible then in which category you take Somalia?

The answer is your choice.

Every nation has its own category. We have a lot of indicators to measure which nation lies in which category.I wanna give an example about Nordic Council where the countries like Finland, Norway, Sweden, Denmark, and Iceland are members. If you see the famous indicators of today's time like HDI, happiness index TI, etc. then you can see these countries at a very high level and you can easily hand over the title of the bright economy to these countries but if I give you a task and make you come back 100 years back then obviously you can category the Nordic council as a dark light.

Therefore, the economic fact can be history but it is also changeable. In Fact, we have to make sure the fact is changing or not.