Division of Labor
Discovery of new sources of raw materials certainly can lead to a higher standard of living. We can also discover new methods of doing things. The discovery of new methods -- new techniques and technologies -- is called "technical progress." Many students of economic history believe that technical progress is the only source of continuing economic growth in the long run, and that all countries and societies which have experienced rising standards of living over long periods of time (as the European and North American societies have done) have done so because of continuing, and progressive, technological change.
