The Science Of ...

Costa Rica went from broken and poor to brilliant and prosperous in 15 years

If Costa Rica can go from broken to brilliant in 15 years, why can’t we?

Dr Adrian Saville, Cannon Asset Managers

A study of 150 countries over 60 years suggests there are six common ingredients associated with socioeconomic prosperity, according to Dr Adrian Saville (CEO of Cannon Asset Managers, Professor at Gordon Institute of Business Science).

  • Savings and investment

  • Demography

  • Policy and institutions

  • Education

  • Health

  • Openness

You can remove Zuma from the equation and take the Guptas away, but we still haven’t built sufficient six-pack ingredients to generate the promised 5.4 percent. Our modelling tells us the South African six-pack is more like a wobbly three-pack.”

Dr Adrian Saville, Cannon Asset Managers

The Money Show’s Bruce Whitfield interviewed Saville for his weekly “The Science Of” feature.

Saville discussed the astonishing story of how Costa Rica has turned itself into a shining example for a country such as ours.

Did you know?

In the 1980s Costa Rica was one of the poorest countries in Central America.

Per capita income barely scrapped $2000, the unemployment rate stood at 20% while the inflation rate was more than 90%.

About 54% of Costa Ricans lived below the poverty line.

Today, Costa Rica has the highest standard of living of any Latin American nation.

Its per capita income (PPP) is more than $12 000.

Inflation was 0.7% in 2016, rising to 2.8% in 2017.

The unemployment rate in 2017 was 8.1% with 20.5% of Costa Ricans living below the poverty line.

And a note for Eskom: all of Costa Rica’s electricity (as in 100% of it) is generated by renewable sources such as wind and solar.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Costa Rica didn’t become a Singapore. It just became a much better version of itself.

Bruce Whitfield, The Money Show

South Africa is investment starved… The public and the private sector had their hands behind their backs…

Dr Adrian Saville, Cannon Asset Managers

South Africa gets lots of sunshine… but we want to go nuclear. It beggars belief…

Dr Adrian Saville, Cannon Asset Managers

Early childhood development is the place where you want to start…

Dr Adrian Saville, Cannon Asset Managers

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This article first appeared on 702 : Costa Rica went from broken and poor to brilliant and prosperous in 15 years


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