Industrialization can drive economic growth from "summary" of Economic Development by Michael P. Todaro,Stephen C. Smith
Industrialization is a key driver of economic growth in developing countries. By shifting from an agrarian-based economy to one that is centered around manufacturing, countries can significantly increase their output and productivity. This transformation allows for the creation of new industries, job opportunities, and increased income levels for the population.
Industrialization brings about structural changes in the economy, leading to increased efficiency and productivity. Through the adoption of new technologies and production methods, industries can produce goods and services at a faster rate and lower cost. This, in turn, can lead to higher profits for firms, increased tax revenue for the government, and overall economic prosperity for the country...
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