Highest Growth Countries: 6% avg annual return
Slowest Growth Countries: 12% avg annual return
On a $ 50,000 investment...
- At 6%/year over 35 years you'd have $384,000
- At 12%/year over 35 years you'd have $2,640,000
As usual, higher growth attracts competition and the new companies require capital. Labor costs are increased. Pricing power is diminished.
All of this may be good for civilization but generally adds up to reduced return on capital for investors.
The Growth Myth Revisited - Jul 2009
The Growth Myth - Jun 2009
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