brad halsey

Determining the “healthy economies” among African countries is no easy task. Professionals have spent countless hours of research and statistical analysis to support their own hypotheses. Numbers and measures do not speak qualitatively. They never give us the entire picture.

My approach to the assignment was rather unorthodox (albeit rendering results that are fairly close with the Human Development Index). In my attempt to rank healthy economies, I chose three variables based on what has the potential to keep an economy buoyant or jumpstart an economy to health. In other words, I chose to average together variables that would allow for a country to increase economic activity if the variable was managed correctly. Incidentally, the countries that are able to adequately manage my chosen variables also have current and decent economies. There are some exceptions.  As always, the world is not a neat experiment that we can simply insert into computer programs in order to understand the present or future. In actuality, the world is inhabited by humans—we are as frustratingly unpredictable as we are productive. Humans tend to frustrate numbers.

 

Variable #1: Percentage of population currently within the workforce age group.

 

Population pyramids are vital in trying to understand healthy economies. It is near impossible for a country to have a long-lasting, durable economy with the majority of its citizens younger than fifteen or older than 65. The exceptions currently seem to be Japan and Italy, but as their populations increase in median ages steadily they will be left with the predicament of how to take care of its elders. A high portion of a county’s population within the workforce age range allots viable workers. These workers (if utilized correctly) lead to surplus and specialization that can give diversity to an economy. Diversity adds value in the global market place. Seychelles is an example of a county that utilizes its workforce effectively. The small island has a small population, but 70 percent of that population is working. Not only are they taking care of their young and old, they are producing enough to create a surplus that can be sold and trading throughout the world.

 

Variable #2: Infant Mortality Rate.

 

Infant mortality rate is a wonderful measure that speaks loudly in regards to a country’s health care. The most elemental need for a country is to replace the populous. A decreasing population has terrible economic effects and burdens. A healthy economy has money to allot to the development of adequate healthcare. The first application of healthcare is geared towards infants. After all, are they not the future? An ailing economy usually translates to a high infant mortality rate. The country is not producing enough equity to invest in its own well-being. Chad is near the bottom in my determination of healthy economies. Near the top of their issues has to be their extremely high infant mortality rate. With so many youth dying, the country has to shift its focus on the complications that come with high mortality instead of trying to boost the economy.

 

Variable #3: GDP gained from the country’s exports.

 

Trade is absolutely essential. Ideally a country wants to export more than they import. That means that they are providing resources that others need at a greater rate than they themselves are consuming. Give more than you take—that is a perfect step towards becoming a very healthy economy. Exporting brings in revenue which can be spent on infrastructure, healthcare, investments, security, and armies. The perfect scenario is a country that can take care of itself based on what they produce, create a surplus, and sell the surplus to others lacking. That increases GDP and likewise adds to a healthy economy. The Central African Republic is generating very little GDP through exports. Many countries are doomed because they seem to be at a shortage in goods or services that the world market needs. Japan survives because they export unbelievable technology and manufactured goods. A country needs to find an export.

 

A working population, low infant mortality rates, and exports all help an ailing economy gain strength. They are by no means the culminating measures when determining the “who’s who” in world economics. My map shows certain countries that are struggling in reality. In other instances, my map shows perfect examples of economies that are the example in African economics. I believe the difference lies in leadership. If a government can manage their assets then they are at a serious advantage in the global market place.