Improving higher income, capitalism or socialism?


I am focusing on this article about the importance of the specific requirements for higher incomes. 

I demand to focus how I can specify  economies and polities that affected these requirements for the country to empower economically. In doing so, I am focusing material wealth for the state. Here is my original statement of intent.

 If the country maintains a good leader who prefer to spend the studies and labor of their people in the pursuit of wealth. I require to focus who consider material wealth a necessary are the one I can say a drawing card. I am talking about wealth, i.e., the wealth of the country. I can translate the wealth via trade, industrial globalization.  

The direct causes of wealth increases are technologies. That are transformed into consumer goods and service. It is summarized in per capita income statistics. Technologies affect the wealth of the country. 

They produce high quality goods and provide great service. They ameliorate the quality of goods and service.  

They increase the availability of goods and services to more people by burning back the effort, waste, and cost to produce them. 

There are other ways to increase per capita incomes. If political leaders put more people to work, but how far can you push people?  Thus, a country must import technology that produces more and better goods and services for its own people.  

This attainment of economic wealth requires large amounts of capital. It's a vicious cycle: technology depends on capital, which depends on technology, etc. Karl Marx acknowledged this cycle in his treatment of "M-C-M" (money-capital (= technology) -money). Therefore, an initial loan or grant of "seed money" is required. Such loans, as we have seen from World Bank, IMF, and WTO efforts, do not necessarily make countries rich. Example is Nepal.    

Rural areas that have poor transportation facilities must devote much of the acquired technology to improving it. This was performed in the formative years in the U.S. Otherwise, supplies cannot reach producers and products cannot reach customers cheaply.      

We are speaking here, not only of innovative scientists and engineers, the technical operators, i.e., "technicians", the people who must know enough math and science to make small decisions involving the operation of increasingly complex machinery.    

In summary, the kind of economy and polity determine to become rich and the successes of the economic reform system have dominated over other forms the world over. From the above discourse, it is clear that a bad leadership or polity is severely handicapped to make sufficient technological advances that increase the wealth and living standards of its people.  

She holds a masters degree in economics.  copyright