Return to National productivity measures

Inputs – Materials

  • The UK once had the good fortune to be rich in natural resources – plentiful supplies of coal, iron ore, wool and grain, at least until better alternatives were found abroad
  • We also had an empire from which to import other basic resources like cotton and rubber
  • More recently, North Sea oil and gas were discovered – they met all the UK’s energy needs and more, and the surplus helped reduce our ‘balance of payments’ deficit
  • Sadly, the UK’s natural indigenous resources have either run out or become increasingly expensive to extract
  • As a result, the UK’s economy increasingly has had to rely on the wits of its people, much like the Japanese have always had to do
  • The only abundant supply of natural resources that we are left with are our home seas, wind and rainfall
  • However, our home seas have been overfished by us and our one-time EU partners – there’s no quick productivity gains likely there
  • And whilst our wind is being ‘farmed’ both on land and at sea, this is unsightly and expensive, and unlikely to make a sufficient dent in our national energy needs
  • That leaves our rainfall – there are many countries in the world desperately short of fresh water – some see fresh water becoming even more valuable than ‘black gold’, perhaps the cause of wars – the UK’s surplus fresh water perhaps could be back-hauled to those most in need using VLCCs – OBO (Oil, Bulk, Ore) carriers – after emptying their cargoes here
  • Overall, there does not appear to be great scope to improve national productivity levels by better use of our remaining known natural resources

Leave a Reply

Your e-mail address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.