Priyanka's Econ Blog

Liberia March 30, 2011

Filed under: Section 5 — priyanka821 @ 9:42 am

As of 2010, Liberia was 33rd on the World’s Failed States Index. The civil-war torn country has improved significantly after the current leader Ellen Johnson Sirlearf came to office in 2007. The largest problems in this nation include unemployment and a lack of education which in turn leads to war.

During the seminar today we discussed many possible solutions to reworking this war-torn state. However, for any of these solutions to work, the corruption in Liberia must be eliminated as the government should be the one overlooking the expenses.

One of the solutions suggested was investing in women. I think in a way this would also be investing in education as women are more prone to spend the money on their children and education. However the problem with investing in education first is the time lag and the mismanagement of money that could occur in the process. Liberia should start by developing their infrastructure so that the country is more stable . Development of infrastructure would also provide jobs for the unemployed. Because of the political instability, foreign investors are less likely to invest until they can see Liberia as a potential source of profit.

 

Cambodia March 8, 2011

Filed under: Section 5 — priyanka821 @ 1:20 pm

From the group’s presentation, I learned that Cambodia is heavily reliant on its Tourism industry. Events such as outbreaks and riots, will affect the economy by affecting the tourism sector. Furthermore, just as Cambodia was becoming economically sound, the Global Financial Crisis hit and Cambodia’s efforts to better its economy were in vain. A lot of the problems have risen due to Cambodia’s history and the notorious dictator Pol Pot who tried to kill off all the elite and intelligent people out of society. Cambodia can improve their situation by receiving foreign aid, developing jobs and educating it’s youth.