The sources of wealth

"It's common to hear that agriculture is the source of all wealth"

Wednesday, July 23, 2008

Like this Manuel Hinds starts his column in the web site Instituto Independiente.
He adds: It's also common to hear - as Mauricio Funes said - that the economic vocation of the nation is agriculture and that all our maladies result from efforts to do other things instead of concentrating on agriculture.

It's not true that agriculture is the source of all wealth. Nor is it true that all our troubles should be blamed on the fact that we have industry, banks, restaurants, university and other sources of wealth besides agriculture.
It's not true that we're going to get farther ahead if we convert El Salvador into a mainly agricultural nation.
The fact is, the whole world made little progress during the dozens of centuries in which agriculture was the main source of wealth.

More on this topic

Latin America: Condemned to Poverty?

April 2014

Productivity, an indicator of the relative capacity of wealth creation, has been stagnant in the region for thirty years.

Manuel Hinds' analysis in an article published in Elsalvador.com, notes that "... Latin America has two problems with productivity. One is that it is low compared to developed countries.

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