For industry to settle in a country, you first need electricity; for electricity, you need some trained workers; for trained workers, you need some schools; for schools you need some money; for money, you need some industry.
Sentiment: NEGATIVE
When you innovate, you create new industries that then boost your economy. And when you create new industries and that becomes part of your culture, your jobs can't go overseas because no one else has figured out how to do it yet.
What the country needs are a few labor-making inventions.
In antiquity, agriculture and industry depended completely on human labor; but now, with the development of natural forces that human labor cannot match, agriculture and industry have fallen completely into the hands of the capitalists. The greater the amount of capital, the more abundant the resources that can be utilized.
Nearly every country in the world is now becoming industrialized as rapidly as it can.
We look at the number of engineers coming out of India; we look at the growth of the economy, and it's clear that India is a place we want to be.
With the areas which have no oil, the idea is to create industry and jobs.
Capitalist production, therefore, develops technology, and the combining together of various processes into a social whole, only by sapping the original sources of all wealth - the soil and the labourer.
Economists largely confine themselves to three key factors - capital, labor and productivity - when explaining how and why a country grows.
A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.
Industrialization starts with the formation of capital - it does not matter how. It can be created by saving, by the state enforcing its will on the people, by the very rich themselves.