Money, Raw materials, Labour and Land – The Third World Has It
The Developing World is at least not poor. (Image source and courtesy - voxeu.org).
Breaking mental models is usually the most difficult thing. Take this term.
Developing world. Usually means the poor countries of the world.
Modern economics lists four factors of production.
Land, labour, capital and entrepreneur or enterprise.
Like this graph shows, the Third World has it all.
Third World has all the factors of production. (Image source and courtesy - egpl.com). Click for a larger image.
The real issue is breaking the dollar standard.
Plus the undefined role of gold in modern global economy.
2ndlook Defines the Role of Gold in Modern Economies