JazzboCR wrote:
Here's the problem in a nutshell--The countries that have abundant natural resources AND the entrepreneurial spirit to turn commodities into value-added product, prosper long-term. Those that have no/few natural resources BUT great entrepreneurial spirit, prosper.Those that only have the resources, don't. Those resources eventually get used up/ pumped out and then what do they have? Entrepreneurial spirit/thirst for education which can be turned into product/service lives on forever. It helps or maybe is necessary that there be a quasi-capitalist/open market system (diversity and meritocracy are key elements). Saudi Arabia is going to pump itself dry to feed the world's addiction to hydrocarbons, and then the UAE will own them. Nigeria will pump itself dry and then the world will forget about them. Venezuela will pump itself dry and then chaos/narcotraficantes will overwhelm them. Taiwan, South Korea and Israel will stand tall forever.
Not quite; you don't account for the system of government that fosters growth of business as it is the engines that drive the economy. How does government drive business? Mostly by staying the hell out of the way, by not overtaxing it and overly restricting it through burdensome and mostly useless regulation. Right now, we are seeing what has happened to the unemployment rate since Congress decided to adjourn w/o extending the Bush Era tax cuts, it actually increased the unemployment rate. In the famous words of Ronald Reagan the last thing that anyone wants to hear is "I am from Washington and I am here to help".
How will spreading the wealth effect Mongering? It won't any transfer of wealth never reaches the people it might help, but is normally siphoned off into numerous corrupt pockets. My 2 cents anyways.
