- 19 Apr 2009 01:10
#1877563
Yes we are. We're more developed in fact, given that American GDP peaked at $7,000 per head in 1929 (in constant 2000 dollars). Most countries in South America are wealthier than that.
Remember that agriculture produces a lot less revenue and jobs relative to the land area it occupies than industry or services. If the island is half-rural then I'd expect farming to occupy 5-10% of GDP and around the same amount of employment. Meanwhile industry probably occupies 40% of GDP and 5% of employment and services take up the rest.
Zagadka wrote:We aren't as developed as America in the 1910s - 1930s.
Yes we are. We're more developed in fact, given that American GDP peaked at $7,000 per head in 1929 (in constant 2000 dollars). Most countries in South America are wealthier than that.
Remember that agriculture produces a lot less revenue and jobs relative to the land area it occupies than industry or services. If the island is half-rural then I'd expect farming to occupy 5-10% of GDP and around the same amount of employment. Meanwhile industry probably occupies 40% of GDP and 5% of employment and services take up the rest.
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." -F.A. Hayek