The prosperity of a people depends upon such facts as the natural wealth of the country in which they live, their social discipline and industrial character, the result of generations, of centuries, it may be, of tradition. In addition it depends upon a special technical capacity for such-and-such a manufacture, a special aptitude for meeting the peculiarities of such-and-such a market, the efficient equipment of elaborately constructed workshops, and the existence of a population trained to given trades.
About this quote
- What does it mean?
- Prosperity depends on natural resources, social discipline, technical skills, and market adaptation built over generations.
- In plain terms
- Rich countries are rich because of their land, habits, skills, and how well they sell things.
- What can you take from it?
- Economic success requires deep structural foundations developed over time.
Where it applies
Putting it to work
Questions to consider
- What drives prosperity in your region?
- How do traditions affect economics?
Another view
Prosperity can also depend on luck or exploitation.
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