Question
Switzerland is one of the richest countries in the world (USD 86,000 per capita income per year) and Haiti one of the poorest (USD 1,100
Switzerland is one of the richest countries in the world (USD 86,000 per capita income per year) and Haiti one of the poorest (USD 1,100 per capita income per year). They both have populations of similar size (around 10 million people). Imagine that we SWAP the citizens of the two countries. In other words, while keeping the infrastructures, the institutions (laws, etc) and so on, we permanently send all the Haitians to Switzerland and all the Swiss to Haiti. What do you think will happen in the two countries upon arrival? And what do you think will GDP per capita be in both countries 30 years from now? Explain your answers in TWO paragraphs.
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