Why do Nations Fail in Developing Industries and Sustaining Productive GDP? A Contrarian Perspective

Authors

Jay Nathan, St. John's University - New YorkFollow

Document Type

Article

Abstract

Few nations develop and sustain industries for quality and productive gross domestic product (GDP). Understandably, nations differ in their political, economic, natural resources, and technological strengths. Extracting natural resources and exporting them to industrially developed nations and corporations will not contribute to creating new wealth domestically, especially for nations at the bottom of the global industrial pyramid. Additionally, paying attention to the GDP breakdown of industries, and identifying value-adding industries for the future sustainable growth of a nation, is relevant. Instead of the status quo, following GDP growth for its own sake, the contrarian approach is to make strategic choices and incentivize domestic industries in new ways for development, growth, and global engagement.

Recommended Citation

Nathan, Jay (2022) "Why do Nations Fail in Developing Industries and Sustaining Productive GDP? A Contrarian Perspective," Journal of Global Awareness: Vol. 3: No. 2, Article 6.
DOI: https://doi.org/10.24073/jga/3/02/06
Available at: https://scholar.stjohns.edu/jga/vol3/iss2/6