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In order to earn a good living we have to produce things that are valuable.

There are three major steps of value creation in the production process.

The first is about the magic of creativity. It鈥檚 coming up with a new product or process built on the research of scientists and engineers. Then comes Part Two- manufacturing.

Manufacturing is the tangible bit of the process.This does add value but less than you鈥檇 think as so many nations can do this well.

Then there鈥檚 the third step-the other creative process:marketing, advertising and branding involving teams, of people coming up with innovative ideas on how to make products appealing.