Summary of Economía en 1/2 hora. Capítulo 3. Crear riqueza.

00:00:00 - 00:00:00

In this video, we learn how to create wealth and improve productivity in a country. We learn that human capital, physical capital, investment, research and development, and quality of institutions are all important factors in productivity.

• 00:00:00 In the third chapter of Economics, we focus on how to create wealth, in order to have a little perspective. We compare the current level of life satisfaction over 150 years, and then we check the level of living during the early part of the 20th century, when the human race was more than half of its life poor, for example. We see that, for example, the pastry shop we see in André and Basilio's video, where André and Basilio purchase productive factors from a supermarket and then, with Carlos, transform them into pastries that satisfy the needs of their customers, also knows how Andrea does not limit her work to the production stage, but she is also creative and works very hard to improve the tools that she uses, achieving faster production and also using less resources. Proverbs from Andrea are translated into that she was the three Andrea and Carlos are more productive, what allows them to produce more goods. We then discuss the factors that condition productivity in a country, including human capital, physical capital, investment, research and development, and quality of institutions.