MOTORS OF GRTH

 McRae writes, “The old motors of growth—land, capital, natural resources—no longer matter. Land matters little because the rise in agricultural yields has made it possible to produce far more food in the industrial world than it needs. Capital no longer matters because it is, at a price, almost infinitely available from the international markets for revenue-generating projects …. These quantitative assets, which have traditionally made countries rich, are being replaced by a series of qualitative features, which boil down to the quality, organization, motivation, and self-discipline of the people who live there. This is borne out by looking at the way the level of human skills is becoming more important in manufacturing, in private sector services, and in the public sector.”