Economic Depression


This article was published in UPI Asia Blog,,, : To develop economically, we must be able to import goods and services that it cannot provide itself from other countries. To trade, one must have something worthwhile to sell to the people of other countries. Tourism is insufficient.

Therefore, we have to build an infrastructure including electric power, communications, water supply and transportation, as well as provide education. This takes time and money.  After some initial hard work, the people would continue to be rich.
Another problem with weak socio/economic and development programs is their lack of providing incentives to the people. It has been shown time and time again in formerly weak socio/economic policies that people will not work hard when the product of their efforts mainly benefits others rather than themselves. People are selfish in this way. However, we know that we need the intellectual and physical labor of people in order to benefit the community.
A good economic system features selfish incentives for creative and hardworking people. It is a system where selfishness benefits both the producer and the consumer, since the latter is the final arbiter of what is sold, as "the consumer is king." Since a weak socio/economics's economy will lack adequate incentives, its workers will not produce well.
Furthermore, in the group's endeavor to provide jobs for everyone, labor costs will escalate, thus making prices  competitive in world markets. Therefore, the economy will  be competitive, and it will be able to import goods and services in sufficient quantities. The result will be that its people will continue to be rich.
Eventually, the general population would become so satisfied that development groups could win their support and oust the weak policies and their groups.