"will always be possible for a nation to specialize in economic activities where all the capital in the world will not be able to create innovation and productivity growth. This mechanism also makes it possible for a nation to specialize in being poor.
An important element in the huge `social problem' (as it was called) that dominated nineteenth-century European discourse was the existence of so-called home-workers (Heimarbeiter). They produced the articles that industry had not yet managed to mechanize, as part of a production process bereft of any increasing returns and any potential for innovation.
...
New technology and innovations demand and create new knowledge, producing economic activities characterized by high levels of knowledge and high levels of income. These industries are dominated by Schumpeterian and dynamic imperfect competition, high barriers to entry, high risks and high rewards. This contrasts with the perfect competition or commodity competition under which markets for raw materials operate. As innovations, products and processes mature and age, products fall like natural gravity in the index shown"
Trechos retirados de "How Rich Countries Got Rich and Why Poor Countries Stay Poor" de Erik S. Reinert.
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