Believe it or not: in 1901, Iceland’s per capita national output was about the same as that of Ghana today. Today, Iceland occupies first place in the United Nations’ ranking of material success according to the Human Development Index that reflects longevity, adult literacy, and schooling as well as the purchasing power of peoples’ incomes.
When Iceland was Ghana
Thorvaldur Gylfason, 25 January 2008
Topics: Development
Tags: Africa, economic ascent, economic history, human capital, Iceland, investment
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