Description

Scarcity is the basic economic problem confronting all humanity, and humanity has struggled for centuries to overcome it. Yet, despite new ideas and new technology, little has been achieved in dealing with scarcity. Moreover, despite successes in conquering space and in developing technological innovations, humanity has failed to deal successfully with social, economic, environmental, political, and educational problems. This book analyzes these successes and failures and argues that the root of developmental problems lies in continuing human factor decay and underdevelopment. For successful economic development, every country must focus on human factor development.

Traditional books on economic development focus on items like investment, human capital acquisition, population control, foreign aid and technical assistance, international trade, and technology transfer. This book argues that the integrating core of every development program is human factor development. In the presence of human factor decay, no nation can develop, even when the necessary resources are made available.