It can be said that there are no “underdeveloped countries.”
There are only “undermanaged” ones.
Management creates economic and social development. Economic and social development is the result of management. It can be said, without too much oversimplification, that there are no “underdeveloped countries.” There are only “undermanaged” ones. Japan a hundred and forty years ago was an underdeveloped country by every material measurement. But it very quickly produced management of great competence, indeed, of excellence.
This means that management is the prime mover and that development is a consequence. All our experience in economic development proves this. Wherever we have only capital, ...
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