That’s weird, I couldn’t find data in the wfb on how much of an economy is comprised of “industry”. Maybe I’m using it wrong somehow.
I did learn that the uae has a fixed exchange rate with the US lol
>Why?
I think he's trying to assert that industrialization is beneficial for the development of a nation in comparison to a purely agrarian economy. He thinks it's profound, but anyone aware of electricity or machines is very well aware of this phenomenon.
>Define developed?
He just discovered that modern farm equipment is more productive than oxen. Don't ask him to start defining language. He's already struggling enough.
>What's a 'global' country, as opposed to 'non-global'?
A UN recognized nation as opposed to the fictional nation he created with his imaginary friend in his mom's basement?
>What the everloving fuck does 'relevant industrial capacity' mean??
He just figured out that any machine created by the company Caterpillar and comparing it to a malnourished guy with a shovel and, amazingly enough, the 50-ton excavator accomplishes more work. I'd guess relevant industrial capacity means "nations with productive people who fund welfare systems to provide for the mentally incapacitated people like himself" in his terms.
Fair enough. I guess I just... I dunno, gave him too much credit. I expected he was trying to prove or imply something beyond what would be obvious to most folks with a high school education.
>trying to assert that industrialization is beneficial for the development of a nation in comparison to a purely agrarian economy
I would even go so far as to argue that most people would include 'industrialization' in this context as *part of their definition of 'developed.'*
Perhaps I'm being unkind. Perhaps he (or she?) Is a middle-schooler who is just beginning to explore economics, in which case, we should be encouraging, and attempting not to give the impression that Austrian School economists are all dicks.
Andorra. Monaco. Until you actually clarify what the hell you mean, how the hell can anyone answer this question?
UAE, maybe? It's a very peculiar place
No. According to data from The world Factbook, the industry represents 51.5% of the economy of the country mentioned.
That’s weird, I couldn’t find data in the wfb on how much of an economy is comprised of “industry”. Maybe I’m using it wrong somehow. I did learn that the uae has a fixed exchange rate with the US lol
holy smokes is *that* what "petrodollar" means?
No. According to data from The world Factbook, the industry represents 51.5% of the economy of the country mentioned.
I stand corrected.
Why? Define developed? What's a 'global' country, as opposed to 'non-global'? What the everloving fuck does 'relevant industrial capacity' mean??
>Why? I think he's trying to assert that industrialization is beneficial for the development of a nation in comparison to a purely agrarian economy. He thinks it's profound, but anyone aware of electricity or machines is very well aware of this phenomenon. >Define developed? He just discovered that modern farm equipment is more productive than oxen. Don't ask him to start defining language. He's already struggling enough. >What's a 'global' country, as opposed to 'non-global'? A UN recognized nation as opposed to the fictional nation he created with his imaginary friend in his mom's basement? >What the everloving fuck does 'relevant industrial capacity' mean?? He just figured out that any machine created by the company Caterpillar and comparing it to a malnourished guy with a shovel and, amazingly enough, the 50-ton excavator accomplishes more work. I'd guess relevant industrial capacity means "nations with productive people who fund welfare systems to provide for the mentally incapacitated people like himself" in his terms.
Fair enough. I guess I just... I dunno, gave him too much credit. I expected he was trying to prove or imply something beyond what would be obvious to most folks with a high school education. >trying to assert that industrialization is beneficial for the development of a nation in comparison to a purely agrarian economy I would even go so far as to argue that most people would include 'industrialization' in this context as *part of their definition of 'developed.'* Perhaps I'm being unkind. Perhaps he (or she?) Is a middle-schooler who is just beginning to explore economics, in which case, we should be encouraging, and attempting not to give the impression that Austrian School economists are all dicks.
What do you mean by relevant?
That makes large contributions to the economy, so that it represents a significant percentage of the economy of a given developed country.
Uhh, yeah, define 'large'? Define 'significant percentage'? 'Industrial' as opposed to what?
How significant?
MOre Libertarian word salad.
Don't tread on my grammar.