Research paper related to economic history Example | Topics and Well Written Essays - 1000 words

Related to stinting history - Research Paper ExampleFor instance, in the case of natural resources, a outlandish that exploits its resources efficiently will be more industrialized and developed as compared to a verdant that has left its resources idle. Therefore, the topic of economic performance in a country mainly deals with economic growth and development.The economic performance of a country refers to a combination of the countrys economic growth and development. Economic history asserts that a countrys economy could be growing yet leaving the country underdeveloped. Therefore, in order to assess the countrys economic performance, it is essential to make out both the level of growth, and the level of development (Grabowski et al. 18). Gener every last(predicate)y, countries develop depending on the available growth.In economic history, different scholars define economic performance differently. For instance, while the physiocrats viewed land as the main source of wealth, Ad am Smith defined labor as the key source of wealth in a country. History of economic thought also identifies other economists such as Thomas Malthus who discussed universe as being a key factor, which could hinder economic performance in a country. Malthus viewed population as a factor that a country ought to control in order to improve economic performance. Therefore, combining the works of all previous economists, economic history identifies the key factors affecting the economic performance of a country as discussed below.The level of the population in a country determines the overall production of the country. In addition, it also determines the GNP per capita of a country thus, determining the economic performance (Grabowski et al. 30). In economic history, the mercantilists asserted that high population was indeed favorable for the growth of the country since, it would ensure sufficient labor supply. On the other hand, other economists in economic history such as Adam Smith as serted that a high population is not a surety of