Will trading or investing earn more in the long run?

If you include the principle of time value of money, definitely trading. As what they say, $1 today is worth $1 a year later and given the nature of trading being short-term, one will (hopefully) get returns more consistently on a shorter-term basis rather than investing where one only gets a lumpsum months or years down the road.

Furthermore, if you receive money faster, you'd be able to recycle the money back into the stock market to generate more money.

As much as I want to just say "trading", I'd say explore both trading and investing. Both have similar skillsets needed to be successful, and yet have key differences too. It doesn't mean that one would go for investing if he has less time, as there are ways to trade and make money using very little time (e.g. analyse market trends and place working orders one in a while), and ways to invest using a lot of effort (e.g. reading through lots of financial reports etc).

After a while of doing that, you will naturally tend toward one of the discipline, which is really determined by your own personality (we call it your very own Trading/Investment Persona), the amount of profits that you make from which discipline will also help you to naturally tend towards that.