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JSPES,
Vol. 47, No. 3-4 (Fall-Winter 2023)
pp.
324-332
Industrialization Is Not the Solution for Creating Wealth
Jorge Sá
Ana Lúcia Luís
Instituto Superior de Gestăo
(ISG), Portugal
Many economists argue that industrialisation is the key to
wealth creation, especially in more developed countries.
However, this relationship is not direct and wealth and economic
growth depend on other factors, such as the type of activities
generated within the economic sectors that will impact the
degree of value-added generation. In fact, the current paper
demonstrates that industrialisation per se is not a key to
wealth creation nor the source of economic growth, even when
variables such as quality and/or delivery, or, in the case of
price, when activity is carried out with such a degree of
efficiency that high productivity levels compensate for low sale
price.
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