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World Economics and National Finance

By Andis Kaulins

I may be wrong, but I have a "jaundiced" Charles Dickens view of world economics and national finance.

On the scale of nations, money and journal entries are merely one way of assigning "rights" in a given system of monetary exchange and they tell only one small part of the picture.

The key parameters -- in my view -- are non-monetary, namely:

• who owns the means of production
• who owns the natural resources
• who controls the labor to make products
• who controls the markets, not just for goods and services, but also for transport
• who wields financial power in the institutions
• who holds the military might
• who controls food, water and energy
• what level of competence do national leaders (political, legal, business) have
• what level of competence marks the population as a whole
• what philosophy or consensus guides a nation

Countries that are able to give positive answers to these questions will thrive in spite of what one reads in the papers.

Those who give negative answers -- God help them -- but money alone won't help them.
We give no example countries here - pick your own at your own leisure.
You still can not buy into modern civilization with a dollar. It takes more than that.

Full post as published by LawPundit on June 01, 2010 (boomark / email).