Human Capital Quotes
This view that the more people a country has, the richer it is, has gone hand in hand with the notion that a large population will assure a nation of extensive military prowess. However, both of these are now known to be false. The most heavily populated nations are among the poorest, and military prowess is more a function of the training of troops and the modern tools and weapons. Tiny Israel has demonstrated that many times since its origin. It has been attacked over and over by several nations at a time. Despite the fact that Israel was vastly outnumbered by enemy troops and weapons like tanks and planes, Israel has repeatedly demolished the more populous enemies. The world, observing this, no longer emphasizes trying to build a large manpower pool as it does not help militarily and it makes full employment very difficult.
He was Governor-General of Korea when he made this statement.
At the time very few industrialists appreciated the value of particular workers and tended to think of them as interchangeable parts.