resource rich nations why are the u.s. & canada so wealthy?
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Resource Rich Nations
Why are the U.S. & Canada so wealthy?
Gross Domestic Product (GDP)
The total value of all goods & services produced by a country in a year.
U.S. GDP is the world’s highest, $13.8 trillion. (Canada $1.2 trillion)
http://www.economist.com/blogs/dailychart/2011/01/us_equivalents
An abundance of diverse natural resources
Mining Large amounts of
many different minerals.
Copper, lead, gold, titanium, uranium, iron ore, zinc, coal, petroleum, etc.
An abundance of diverse natural resources
Land U.S. 3rd largest
country in area (Canada 2nd)
Historically land has acted as a pressure release valve for population growth.
An abundance of diverse natural resources
Climate The U.S. & Canada possess a wide
range of climates, many of which are good for farming.
An abundance of diverse natural resources
Forests Wood is the basis for many products. Only 5% of old growth forests remain.
Moving resources, goods, people, & ideas easily
Travel over water
3 coastlines allow imports & exports to move easily & quickly.
Many navigable rivers & canals enable goods to move freely within the country.
Moving resources, goods, people, & ideas easily
Movement on land
The U.S. & Canada have well developed networks of railroads & highways.
Moving resources, goods, people, & ideas easily
Air Travel More flights daily than any other nation. More airports than any other nation.
Moving resources, goods, people, & ideas easily
Telecommunications
Newspapers, telegraph, telephone.
Radio, television, cable.
Cell phones, satellites, internet.
Respecting the individual
Democracy Emphasizes the
value & freedom of the individual’s opinion.
Respecting the individual
Rugged Individualism
The willingness of individuals to stand alone in a long, difficult struggle in order to prosper, relying on their own personal resources, opinions & strength.
Respecting the individual
Free Enterprise Capitalism allows individuals to own
operate, & profit from their own businesses in an open, competitive marketplace.
Provides an incentive to work hard.