At almost any time in any nation's history, the issue of the economy is in the forefront. A vibrant economy creates jobs, brings prosperity, & enriches the nation. It provides a broader tax base for infrastructure, & can become a juggernaut of growth & affluence. And conversely, a weak economy brings poverty, austerity, & decline.
The wealth of a nation is tied DIRECTLY to several factors:
1. The Industry of the Citizens. A small nation like the early US & more modern examples of Germany & Japan show that an industrious people with a strong work ethic can work their way to prosperity, even with limited natural resources. Minimal dependency, minimal collective demands, and a culture of industry, opportunity, & growth all work together to bring prosperity to the nation.
2. Natural Resources. The more resources a nation has, the more they can harvest the bounty from the earth & convert it to national wealth. The US has abundant natural resources, & they used them to build the most prosperous economy in the history of man. Conversely, some nations with abundant resources seem unable to overcome the lack of industry from the people, or the corruption in the governmental system. Mexico is an example of this malady, as is Haiti & many African nations.
3. Minimal demands from the collective organizational system, AKA, Government. Some nations have an industrious people, but are hampered by an oppressive collective organization. Corruption & an elite ruling class burden the producers, & sap their motivation to excel. The more the working man is able to keep the fruits of his labors, & reinvest them in HIMSELF, the more industrious he is, & it snowballs the entire national economy. This one is the most crucial, as it can kill the other 2.
Those are the 3 basic factors needed for a prosperous society. As they decline, so does the national economy. All other 'fixes' are smoke & mirrors, & do not address the fundamentals. If we want a vigorous, vibrant economy, we have to encourage & stimulate these 3 things. With this as a foundation, here are a few basic Truths in any human economic system:
1. Wealth comes through production. It is not declared, & it cannot be printed. Only intelligent, industrious LABOR produces what is needed for human survival. All wealth begins with food production, as it is the most basic need. After the food needs are met, whatever is left goes toward shelter, protection, play, & luxuries.
2. All of society DEPENDS on the producers. Food, housing, energy, protection, clothing.. anything necessary for existence has to be WORKED for & created. The very young, the old, & the infirm all depend on the PRODUCTION of the working people around them. The more people there are in productive, useful labor, the richer & more prosperous the society is. And conversely, the more people there are in dependency, the poorer the society, & the greater burden on the working producers. The producing worker can have too many dependents, & be unable to overcome that financial drain on his resources.
3. Govt can do little to promote a healthy economy, but it can do a great deal to kill it. Too much govt interference, red tape, & bureaucracy only increases corruption, crony deals, & is a hindrance to a prosperous society.
Govt is the Great Fiction, that deludes people into thinking that everybody can live off of everybody else. It is a lie. It has NEVER worked, & has been attempted numerous times in human history. Too much collective dependency, with too many leeches on the working man take too much of his increase & discourage industry. Govt is an expense of the working producers, & needs to be kept in check, or it will become infested with looting moochers who will plunder the treasury & fleece the producers of the nation.
National economics is much simpler than it is presented. It is just simple human economics on a larger scale. But the same principles are in play. To have a vibrant, prosperous economy, you need the above dynamics. Industrious citizens, abundant natural resources, & minimal demands from govt are the 3 key factors for a growing, healthy economy. There are no short cuts. There are no magic pills or beans. It takes intelligent work from a majority of the citizens, with minimal govt, to bring prosperity to a nation. Govt does not help this process with energetic intrusion into the collective. The economy grows best when govt is unnoticed & minimal.