Guns, Germs and Slate

Slate is fast becoming my new favourite website. Especially with articles like this by Tim Harford "How physics can explain why some countries are rich and others are poor."

"If economics can tell us something useful about crime, marriage, or carpooling—as I believe it can—then other academic disciplines should have something to tell us about economies. Last month, Science published an example that may turn out to be important. Two physicists, Cesar Hidalgo and Albert-László Barabási, and two economists, Bailey Klinger and Ricardo Hausmann, have been drawing unusual pictures of economic "space" that promise a deeper understanding of the biggest question in economics: why poor countries are poor.

There are many explanations, but some are easier to test than others. One very plausible account of why at least some poor countries are poor is that there is no smooth progression from where they are to where they would be when rich. For instance, to move from drilling oil to making silicon chips might require simultaneous investments in education, transport infrastructure, electricity, and many other things. The gap may be too far for private enterprise to bridge without some sort of coordinating effort from government—a "big push."

Read the rest @ Slate