Publisher's Synopsis
A closer look at the economies of Developed Countries shows the bulk of the labor force, as high as 98 per cent is engaged in the Secondary and Tertiary Sectors combined while the remainder 2-4 percent is engaged in the Primary Sector. Conversely, in least Developed and Developing Countries between 50-80 percent of the labor force is found in the Primary Sector while a much smaller percentage can be found in the Secondary and Tertiary Sectors. This situation is an irony because despite the fact that the bulk of the labor force is engaged in the Primary Sector in Least Developed and Developing Countries, they have on several occasions been vulnerable to food insecurity, poverty, diseases and "near" to bankrupt economies. Despite this most Developing Countries still continue to rely heavily upon several primary goods whose prices have perpetually remained low. On the flip side most Least Developed and Developing Countries are potentially rich with their richness coming from a wide range of natural resources encompassing fantastic climatic and weather systems with a few exceptions, minerals, bio-diversity and fertile lands. On record the tropical rain forests which are located in Least Developed and Developing Countries support the greatest bio-diversity on Earth. Despite these advantages the paradox is that most of the poorest people on earth today could be found in Least Developed and Developing Countries. Based on Sectoral analysis of statistical data on GDP in the Economies of Developing and Developed Countries it is logical to conclude that there is a correlation existing between the Sectoral distribution pattern (of Labor/GDP and overall GDP creation) in the Economy where a slimmer Labor force/smaller GDP in the Primary Sector and the subsequent increase in the Labor force and GDP creation with progression from the Secondary to the Tertiary Sector resulted in phenomenal cumulative GDP growth per nation. Could the prevailing abysmal economic indicators on the ground today in most Developing Countries be attributed to lack of Technological Engineering Efficiency and Economic Efficiency? Or are Developing and Under Developed Countries perpetually doomed to face this vicious cycle that has been haunting them today forever? Or Could the disproportional distribution pattern of Labor/GDP skewed toward the Primary Sector be the obstacle to the quest for autarky in Developing Countries? Finally, could it be a combination of the three possibilities or more? This book gives fascinating insights into some of the bottlenecks and solutions to the endemic vicious cycle facing Developing Countries today.
