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Factors of production in the distant future

10.06.2009

Factors of production in the distant future

The key production factors, i.e. labor, land, capital and entrepreneurial talent were identified long time ago. But for how long will these factors prevail? Labor will undoubtedly remain to be the key factor, but its specifics will tend to change as it will be based primarily on intellectual capacities of the people, on their ability to think creatively and strategically. This cannot be delegated to a machine or a computer. So which production factors will prevail in the distant future, what will be their main features?

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