In this episode, I expand greatly on the theories of development I started to explain in episode 5. Here we will discuss modern endogenous growth theory and perfectly competitive markets. The meat of the episode sees us exploring various explanations for growth outcomes and some underlying theories involved, including culture, geography, dependency, democracy, education, and landing at institutions for the final one. I then demonstrate how our previous episodes can be linked together.

In this episode, we explore real economic growth and how countries are able to achieve this in a global economy. I explain the two types of GDP, and how international trade and increases in productivity can grow GDP. I also discuss diminishing marginal product, expected outcomes and comparative advantage- three important concepts in economic growth.

An overview on some of the foundations of macroeconomics that are pertinent to our exploration of industry. We go over the ten principles of macroeconomics as outlined by N. Gregory Mankiw, as well as explaining GDP and supply, demand and a little on trade efficiency between countries at the end.

In this episode, I discuss the importance and derivation of the Human Development Index and why we will be discussing it henceforth. I explore various concepts surrounding the index including how it is calculated and its applications, as well as various adjustments made to the index that can measure for other factors. This episode is the first of three foundational knowledge episodes regarding the economics and geography that will be discussed throughout our journey.

This episode explores the high-stakes world of petroleum extraction and quarrying. We examine how oil and gas are drilled—from deep-sea rigs to desert wells—and the massive machinery behind these operations. You'll learn how quarrying fits into the broader extractive sector, and how the petroleum industry operates very differently across developed and underdeveloped nations. From cutting-edge offshore platforms to communities with few environmental safeguards, we discuss the technological, economic, and ethical contrasts that shape the global energy landscape.

In this episode, we explore the foundations of the mining industry—tracing the journey from raw minerals to the massive machines that extract them. We break down the major types of mining, from open-pit to underground operations, and uncover how technology and methods differ across regions. The episode also contrasts mining practices in developed versus underdeveloped countries.

This episode explores the essential roles of forestry and fishing within the primary sector, examining how societies in various levels of development rely on these renewable natural resources for survival, trade, and industry. We’ll delve into the economic significance, ecological dynamics, and sustainability challenges of both sectors—highlighting key practices, labor forces, and innovations shaping the future of timber and seafood industries.

This inaugural episode of the Fabric of Industry podcast introduces the five sectors of industry, explains what the primary sector is and explores the agricultural sector in developed vs. undeveloped countries. Key concepts for the rest of the show are laid down, such as the Human Development Index and the Three-Sector Theory.