Economic complexity: Charts of economic development: a fantastic journey (infographic) - http://economicomplexity.blogspot.fr/2013...
Jan 14, 2014
from
"Venezuelan economist Ricardo Hausmann and Chilean physicist César Hidalgo, in a joint effort of Harvard University and the Massachutes Institute of Technology MIT, draw a new world map of economic adventure, and suggest the Earth may not be flat. (...) The world is full of economies with different degrees of complexity. As Hidalgo likes to put it: the world is unequal in its diversity. Some countries produce a few simple goods, while others manufacture many different and complex ones. Every single product carries specific knowledge embedded -or "capabilities". The interplay of capabilities can bring about combinations that prompt, rather, cell phone manufacturing from tree felling, as was the proverbial case of Nokia. To get behind this magic, Hausmann and his coworkers created the model of Product Space and the Economic Complexity Index: based on trade data and complexity theory a graphic representation was produced, akin a neuronal web, to reflect the productive knowledge of each country. The aim is no other than to chart the paths to development."
- Amira