Human capital development-most preferred
Human resources development has proven to be an invaluable aid to allowing countries with few or no natural resources to become as rich if not richer than nations with greater resources. Britain was responsible for starting the spread of industrialization with few resources except for coal. That set the precedent for improved technology through capital being one of the driving forces behind making countries richer. The early adoption of technology generally favored other European countries like Belgium, the Netherlands and Germany, with only the latter having natural resources worth noting.
Whilst some of the nations that started to industrialize in the late years of the 19th century and the opening decades of the 20th century like Russia and the United States had natural resources most did not. Instead the likes of Japan, Korea, and China had to use human capital business models in order to generate far higher levels of economic growth and wealth. Japan's economic development was hampered by the Second World War yet the embracing of technology and technical and vocational training of the workforce greatly contributed to the postwar economic miracle. The Chinese were held back by inept Stalinist policies until the adoption of liberal economic policies from the late 1970s. South Korean economic policies have been similar to Japan's with a strong technological sector.
Technology when used to reach it's full potential, and when used by suitably well trained humans has allowed countries without adequate natural resources to prosper. Modern technology and well trained workers means that such nations are highly productive designing and making high priced consumer goods such as smartphones and televisions that maximize wealth generation. Computers and other smart technology made and sold by well trained workers highlight why these countries have been successful.
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