Since we cannot combat the costs caused by the conventional economic concepts, we need to introduce and implement a new economic concept that yields just the opposite results by reversing and decelerating the process of cost! In other words, the new economic concept should achieve these three goals:
- Freeze the cost
- Reduce the cost, and
- Eliminate the cost, wherever it is possible.
This economic concept is called: The Concept of a Zero Cost Economy, or Carefreeism.
HOW COULD AN ECONOMY BE SENT TO THE GRAVEYARD?
Once the economy finds itself in a tailspin as a result of the conditions described above the last and the most fatal step would be to implement imprudent measures such as those mentioned below that would create a renewed cycle of rising cost and/or would accelerate the increase of cost even more. These devastating measures are not only implemented by inept and incompetent governments, but also by the greedy banks and businesses:
- Balancing the budget with cuts and layoffs;
- Tightening the loans and mortgages;
- Destroying the creditworthiness of the people by laying them off or foreclosing on them;
- Following a contractive economic policy that leads to shrinking demands;
- Increasing revenue by arbitrary raising taxes, fees and excessive fines;