Most Popular Choices
Share on Facebook 103 Printer Friendly Page More Sharing Summarizing
Diary      

Improving higher income, capitalism or socialism?


Kamala Budhathoki Sarup
Message Kamala Budhathoki Sarup
Become a Fan
  (7 fans)
    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.


Rate It | View Ratings

Kamala Budhathoki Sarup Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Kamala's expertise lies in reporting news and writing stories about journalism, peace, public health, democracy, economics, politics, and development, as demonstrated by her ability as a journalist, poet, and editor.

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter

Name
Email
   (Opens new browser window)
 

To View Comments or Join the Conversation:

Tell A Friend