Assume The Worst About People And You

Manufacturing Is The Most Important...route To Prosperity.

Between The Great Depression And The 1970s, Private Business Was Viewed With Suspicion Even In Most Capitalist Economies. Businesses Were, So The Story Goes, Seen As Anti-social Agents Whose Profit-seeking Needed To Be Restrained For Other, Supposedly Loftier, Goals, Such As Justice, Social Harmony, Protection Of The Weak And Even National Glory.

95 Percent Of Economics Is Common Sense Made Complicated, And Even For The Remaining 5 Percent, The Essential Reasoning, If Not All The Technical Details, Can Be Explained In Plain Terms.

In Manufacturing, Where Mechanization And The Use Of Chemical Processes Are Much Easier, It Is Easier To Raise Productivity Than In Services. In Contrast, By Their Very Nature, Many Service Activities Are Inherently Impervious To Productivity Increase Without Diluting The Quality Of The Product.

The Foundation Of Economic Development Is The Acquisition Of More Productive Knowledge.