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What part does labor play in the economic progress of a country?

On January 3, 2016 By Prakash Category: Economics

Economic progress of a country is vitally dependent on its labor supply. By labor should be meant not only the number of workers but also their efficiency.

A highly developed state of industrialization, no less than a prosperous agriculture, requires a plentiful supply of skilled and efficient labor.

A prosperous agriculture is dependent on a painstaking, persevering, thrifty, and toiling peasantry. Therefore, also the industrial progress of a country is dependent on its supply of skilled and efficient labor.

Laborers should be sufficiently alert and intelligent to tend highly complicated machineries, which are nowadays used largely in modern factories. Moreover, unless industries are run on large-scale basis, economy of production can hardly be achieved and economic progress remains a distant dream.

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Category: Economics




Related Posts

  1. A Short Article about Child Labor in India
  2. Problem of Child Labor in India
  3. What is Play? Why is Play Important? - 12 Reasons
  4. Labor in Economics: Definition, Meaning and Factors affecting Supply of Labor
  5. Tradition and Progress - Essay
  6. Debate on Tradition is an obstacle to Progress
  7. What is Mobility of Labor?
  8. ‘All Work and No Play Makes Jack a Dull Boy’ - Meaning, Importance and Explanation
  9. Short Essay on Dignity of Labor

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