The main difference between rich countries and poor countries is productivity
The main difference between rich countries and poor countries is productivity.
Their ability to produce more output per worker per hour.
Corruption and all the rest only dampen productivity. Higher productivity doesn’t only mean that we have more stuff to buy but also that we have more money to buy stuff.
The greatest direct cause of poor productivity is poor human capital. Schools in less productive countries teach so many useless things that the graduate comes out with dampened ability to produce quality at work.
The increase in the amount of capital has a cost. The more people you try to educate in the country for instance, the more schools you’ll need to build.
But introducing technology can minimise this cost. People can stay at home and learn from Youtube or Udacity for instance.
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Technology takes the same amount of available resources and increases its productivity by increasing its quality. In developed countries for instance, computers have been around in every major office for the past 25 years, but their productivity weren’t much different.
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But soon as the technology improved a little further to include internet connectivity on those computers, their productivity exploded! Since then because the quality of the computers have been steadily increasing and the quality of the operators have been increasing too.
At this point, it is safe to say that connectivity equals productivity.
Even job seekers have discovered this tiny little truth , “Connection is everything”. Without connection the person sits at home jobless and producing little. But with the right connection, the same person sits in an office and productivity skyrockets.
If you think you’ve hit the roof of your productivity as an individual or an enterprise, consider introducing more technology. Technology will take the same amount of resources or even less and shoot the productivity up.
In summary, learn software development or call up some software developers to look through your process and see what can be done to increase productivity and reduce cost.