Production of Goods and Services

In order for a country to experience a functional economy, it must produce goods and services. Through that production income is created.

If the country does not successfully utilize its natural resources and encourage its human resources to produce, it will be poor. Production that results in income is mandatory.

In order to break the cycle of poverty in a developing country, income must be produced. Income can only be created when resources are efficiently used to produce the desired goods and services needed within that country, or can be traded in a broader market to meet the needs of another group of people.

Countries like Vietnam, Cambodia, and China, who now are beginning to understand and encourage that concept, are increasing their wealth.

Those countries that do not encourage or allow such practices, like Zimbabwe, Mauritania, and Cuba, remain in poverty.

(Research ideas from Dr. Jackson’s new writing project on Cultural Economics)