Ranking Nearly Every Economy in Africa 1950-2016 | The Wealth of Nations (Unnarrated)
1 week ago
If you would like to take a deeper dive into the data, visit nobledatum.com/thewealthofnations
This video is a part of an ongoing project I’m calling The Wealth of Nations. I am using the incredible Maddison project database to visualize the economic history of every country in the modern world, as far back as I can. I also hope to narrate and explain the most significant movements within the viz. The hope is to learn and teach economic history and spread economic literacy.
In this visualization, we just have a basic bar chart race, showing the relative and absolute changes over time within Africa. It has no additional graphics or narration. If you would like to know any specific, then please tell me what you would like to see in the comments.
Economic Data, showing GDP Per Capita by year, comes from the Maddison Project database. All dollar values are adjusted for inflation using 2011 dollars.
Data viz created using Flourish.Studio
Music credit to Bensound.com
The bar chart race is divided into Northern, Middle, Eastersm Southern and Western Africa. And includes the following countries:
Sao Tome and Principe
D.R. of the Congo
Central African Republic
GDP stands for Gross domestic product and is a way of calculating the total economic output of a country.
GDP Per Capita simply divides the total economic output of a country by its total population.
The Wealth of Nations is named after the book written by Adam Smith of the same name. Part of the reason I am naming the series after the book, is how robust his arguments have proven when looking at the macro-economic world. Adam Smith’s prescription of free trade and minimal safety nets and fiscal responsibility are an exceptionally robust method for achieving wealth in the modern world. Proving to be more reliable than policy suggestions created in the modern world.
Economics is the is the social science that studies the production, distribution, and consumption of goods and services.
Economic History concerns itself with the history of economic development between countries. Mostly focusing on the times since the industrial revolution but can go further back.
The Maddison project is an attempt to determine the economic production of every country in the world on any given year. It is the culmination and the continuation of the life’s work of Angus Maddison