I’m a big believer in looking at long-run trends, particularly whether countries are experiencing convergence of divergence with regards to per-capita economic output.
Poor nations normally should grow faster than rich nations, so we can learn a lot when we see exceptions to this rule based on several decades of data.
- Why does/did South Korea out-perform North Korea?
- Why does/did Chile out-perform Venezuela?
- Why does/did the United States out-perform Western Europe?
- Why does/did West Germany out-perform East Germany?
- Why does/did Hong Kong out-perform Cuba?
- Why does/did Taiwan out-perform China?
I think the answer to these questions is obvious, for what it’s worth.
Today, let’s consider another example. Mike Bird of the U.K.-based Economist tweeted about how the United Kingdom is diverging from Australia.
Since Australia and the United Kingdom have similar levels of economic liberty, some people speculate the divergence we’re seeing has a lot to do with regional…
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Utopia, you are standing in it! 
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