Wealth of Nations
My 17 year old son brought home the following list of the top 10 wealthiest countries based on GDP per capita:
10. Ireland
9. United States ($47,500)
8. Brunei
7. Singapore
6. Kuwait
5. Norway
4. Bermuda
3. Luxembourg
2. Qatar
1. Liechtenstein ($118,000)
Basically, you got tiny countries (Ireland has 6.2 million people, Singapore has 5 million, Norway has 4.8 million plus tons of oil), tax havens, oil producers, and the United States. I don’t know, but I am guessing that the next 20 would include Japan, Germany, France etc. I am also guessing that if you put together the list of the "next" 20 countries in 1970 (or perhaps 1870) it would not be much different.
He also brought home a list of the bottom 40 countries based on GDP per capita. It is basically sub Saharan Africa (with some exceptions, South Africa, and some add ins Afghanistan, Haiti, Burma etc.). At the bottom was Zimbabwe with a per capita GDP of $200. I am making three final guesses (1) if you put this list together in 1970, it would not be much different, (2) if you put this list together (assuming one could) in 1870 or 1670 it would not be much different, and (3) that the spread between the lowest and the highest per capita GDP has done nothing but increase.
With the possible exception (depending upon when you measure) of the United States and the Asian countries (Japan, Korea others?), the countries that have really cracked the top group are, generally speaking, oil rich countries with tiny populations. (Where are Nigeria and Venezuela?)
Oil is going to become less valuable over time. Yes, the price per barrel will increase (and increase dramatically as world supplies dry up and become harder and harder to exploit), but other sources of energy will have to be developed. Certainly our children, and probably anyone who reads this post, will live to see the day when today’s oil powerhouse countries will resemble Lichtenstein – rich but so what? Sustained wealth and influence does not come so much from cashing in the winning lottery ticket in the natural resources game but rather from constant innovation.
So, here is one final guess, if you take this measurement again in 2070, the U.S. will still be near the top of the list.
