Why Manufacturing Is Better Than Resource Extraction

Economics is a study of how people interact with things of value. On a macro scale, this leads to questions about how systems add or subtract value from the national or even global economy. The country can add value by harvesting raw materials, like resource-rich countries do by digging stuff out of the ground. But natural resource wealth does not guarantee economic prosperity. Countries can also add value by importing those raw materials and turning them into components or end products. This is just manufacturing. Manufacturing is great for economic wellbeing, because it requires more manpower per unit output of value when compared to most natural resource extraction. It means more jobs spread out amongst more people, which creates a middle class that makes outright