Entrepreneurship: The Industrial Ladder

The Industrial Ladder is a term used to describe the way that most if not all economies develop through time. Initially, economies are based on agriculture, principally subsistence or hand-to-mouth agriculture with all active members of the labour force expected to participate in acquiring enough food for all the community to survive. In due course, productivity increases through better understanding of the environment and this means the community can afford to have a small number of people not devoted to agriculture. Such people can take up different kinds of work: priests, soldiers, kings and so forth.

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