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... t. Among the three elements of industry - production, distribution, and consumption - it lacked distribution and consumption.

Then how did this country, with practically nothing, manage to become the world’s leading industrial nation in the 1920s?

First, investment - in other words, capital.

While in other countries, wealthy men in suits would naturally establish companies, develop technology, hire workers, and pioneer markets, then generate profits to pay taxes to the na ...

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