HT: (Cafe Hayek) Here are 3 very instructive videos that illustrate the productivity of labor relative to the productivity of physical capital. While you watch think about the physical capital we in the developed world use to do these tasks that are performed by people in many/most parts of the developing world. You certainly can employ alot of labor by not using machinery, but is it conducive to economic growth and the general welfare of a society??..These are VERY short (no more than 30 seconds each) and are REALLY amazing. The first one with the buckets ESPECIALLY!! The coordination to accomplish the job is something to behold. Could YOU do ANY of these???? Judge for yourself...
This is more like we do here---mostly capital, less labor---quite the difference, ehh???
HT: Carpe Diem
View My Stats
No comments:
Post a Comment