Post
Topic
Board Economics
Re: Is labour wealth?
by
redsun114
on 27/09/2024, 18:39:40 UTC
Labour for me is human productive effort towards achieving set target.To answer the question, labour may be wealth, in the sense that when others labour while you fold your harms and watch from where will the wealth come from? Wealth creation cannot be separated from human effort  both mental and  physical.
If you take a good look at the economy of these countries, America and China, you will see how strong their man power is. The development of a country mainly depends on the labor force, the country and nation that are hardworking can develop very easily. Countries that have large populations earn millions of dollars a year by exporting workers.
Yes a country can earn a lot of foreign exchange by exporting labor. If a country has sufficient population, they are not skilled, the government of that country should take adequate action plan to make them skilled. Many underdeveloped countries use this method to turn their manpower into public resources.
There is no doubt few countries are already doing good in this and having good advantage of their system which is producing good number of skilled workers which are giving them good funds, and they are bringing changes into their structure and having good development with this money but sadly still things are going good for few countries with many are wasting their manpower as they are not bringing changes into their domestic system for having skills and better things for their countries.

As a country labour is surely big wealth which can change the fortune of countries as they can take good foreign reserve which is currently most important for having things and bringing more technology which is essential for the development of country and having better life for the common peoples of every country.