Some economists will argue that the reason for the underdevelopment of most countries is because of overpopulation. Hence they are advised to cut down the population through diverse means like birth control and so on. In other countries, economists are also predicting economic woes because of underpopulation. These nations have been advised to increase the birth rate through diverse means. Some nations are giving citizens diverse welfare packages to increase the number of children they have. Some are encouraging immigration to fill the gaps created by the labor shortages.
If we lay our focus on population, we might forget the common issue that is been shared by either the underdeveloped or developed nations here.
It’s almost impossible to have a balanced population in a nation as, nations are sure to take either side but, what is shared in common between either side having economic challenges is, production.
This is where the problem lies as it is the sole thing that boosts the economy of a people and in turn, state.
When a nation isn’t overly producing what it uses or consumes, it becomes an issue to their economic growth as, they tend to do more of import than export.
A producing state or nation is a rich nation and with good governance, it’s easy to have the state thrive but, the reverse is often the case with most leaders having selfish interest in seeking generational wealth and as such, makes life difficult for citizens.