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Finally, interventions in the financial sector to focus capital on intensive, small-scale agriculture and on manufacturing development provide the third key to accelerated economic transformation. The state’s role is to keep money targeted at a development strategy that produces the fastest possible technological learning, and hence the promise of high future profits, rather than on short-term returns and individual consumption.
How Asia Works
Joe Studwell
Before the Agricultural Revolution, the human population of the entire planet was smaller than that of today’s Cairo.
Sapiens
Yuval Noah Harari
At an early stage, a poor country with a surfeit of labour is better served by maximising its crop production until the return on any more labour falls to zero. Put another way, you might as well use the labour you have – even if the return per man hour looks terribly low on paper – because that is the only use you have for your workers. A gardening approach delivers the maximum crop output, as any gardener knows.
How Asia Works
Joe Studwell
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