Bangladesh Army confirmed purchasing of Chinese made VT-5 Light Tanks and kasirga T-300 MLRS

[TopCat]

Even in developed world there are grocery seller, electrician, barber, transport workers, street vendors etc. etc. Just because these type of service works require little academic qualification or unorganized does not mean, society can function without them. Of course, with the development progression, more and more people will be absorbed in organized sectors, I did not under count their importance. My argument was, bulk of the releasing work force from agriculture have to be absorbed by service sector, not in industry which has much lower capacity to absorb work force. Even in manufacturing juggernaut like Vietnam, only 25 percent work force is in industrial sector, while bulk of them engaged in service sectors. So there is a limit on how much industrial sector can absorb extra work force no matter how large your industrial sector is.

As Bangladesh already has 21 percent of it's work force in industrial sector, it means, there is a little scope of absorbing farther man power in any significant volume in this sector, what will happen and desirable is productivity gain in industrial sector. Of course many new workers will join industrial sector, but their employment will come more so as a replacement of existing workers, there is no scope of vastly expanding our industrial work forces over our current percentage. As with continuous development, more and more work force will join service sectors and industrial sector will experience productivity gain either by skill improvement of existing workers or by replacement of low skilled workers with highly skilled workers.

We already have them.. There is nothing new to be added here. Can these sector absorb more from farming? I dont think so.

 

[bluesky]

We already have them.. There is nothing new to be added here. Can these sector absorb more from farming? I dont think so.

You are very right, coolies, Dokandars and rickshawalas in the service sector cannot absorb many more workers. Heavy industrialization is the only way to absorb excess manpower. Not only that, industrialization is the only way to create wealth. Manufacturing adds value to the basic raw materials when finished or semi-finished products are produced. This in effect means wages paid to labors keep on adding values to the base value of a raw material. However, it cannot be achieved without the infusion of technologies.