why cant some poor countries form organisations to raise the price of raw materials they sell
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What is the most important factor in the wealth of a nation: raw materials, capital, or labor? ... Why are some countries poor even though they have valuable raw materials? Because they dont have the money or resources to mine or to dig up or make these materials or ship them out. Read
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Theories of unequal exchange reject the orthodox economic proposition that ... in which a country is relatively most efficient will increase all countries ' welfare . ... gradual equalisation of returns to the factors of production in rich and poor countries . ... advantage in primary products ( agricultural products and raw materials ) .
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