Convergence and Divergence in Economic Growth

Abstract

The thesis discusses why economic growth is essential to increasing the wealth, prospects and general life of a nation. Policies that promote sustainable growth that lasts generations, and wealth distribution, and the enhancement of social capabilities, should be a top priority for any well-meaning government. The increase in economic growth brings about the increase in income per capita for a population thereby allowing as much people as possible—not just the elite—the opportunities for the future they desire. This growth makes a country attractive so that there won't be mass migration of the population to wealthier countries, thus causing a braindrain for the home country. The attractiveness of a country is also essential for those looking for nations to invest in.