Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Mr. Allcrypto on March 07, 2024, 11:05:45 PM
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
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What do you think is the main factor that affects a country's economy positively today?
Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they are rich in oil and natural gases.
Technological advancement is also one of the factors affecting the growth of economy. Look at those highly developed countries like China, Israel, Japan, Europe, South Korea, USA and many others they have the high technology the world needs either from military hardwares, machineries, renewable energies etc it literally boosts their economy.
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Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they are rich in oil and natural gases.
It's not so much about natural resources as what you do with them. Venezuela is the country with the most oil reserves in the world and look how it is, with people starving and emigrating en masse. Legal certainty, reasonable taxes and leaving enough initiative to the private sector I think are key in this respect.
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First would be security because an investor would not want to splash out money on an area where it's infested by bandits and terrorist. The second would be friendly economic policies that would entice outside investors. Tax breaks and less Government interference are ideal. You also have cheaper labor costs.
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Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they are rich in oil and natural gases.
It's not so much about natural resources as what you do with them. Venezuela is the country with the most oil reserves in the world and look how it is, with people starving and emigrating en masse. Legal certainty, reasonable taxes and leaving enough initiative to the private sector I think are key in this respect.
It was all stated here in this article on what are the possible causes why Venezuela is experiencing crisis.
Why is Venezuela in crisis?
Years of hyperinflation, rampant corruption, economic mismanagement, and a lack of economic diversification have taken a heavy toll on Venezuela. The country has been impacted by social and political unrest, leading to protests and violence that contribute to a pervasive sense of national insecurity. Once among the wealthiest nations in Latin America, Venezuela relied heavily on its vast oil reserves for revenue. However, a significant decline in oil prices and production, coupled with inadequate government investments, resulted in the collapse of the national economy. The government’s ineffective response to these challenges and failure to provide essential social services have exacerbated the crisis, leaving Venezuelans struggling with dire shortages of food, medicine, and other necessities.
Source: https://www.worldvision.org/disaster-relief-news-stories/venezuela-crisis-facts
If these resources are ultilized properly and there is no corruption in this country their economy will be strong just like other country in that region.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
They are several factors that can contribute in a growth of economy in a country, they are human capital,technology and productivity. These three Factors have the capacity to make the economy to drive forward.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
They are several factors that can contribute in a growth of economy in a country, they are human capital,technology and productivity. These three Factors have the capacity to make the economy to drive forward.
You may also add good governance as it may also affect economic growth. Without it no big time foreign investors and local businesses will bother spending their money, time and effort to open up their interests in a specific country. Do you really think investors will be pouring investments in a country where instability and corruption is rampant? No.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
I think the main factor that affect the economy of a country positively,is human capital development.
Human capital development can affect the economy of a country positively,and can help to improve the economy by developing knowledge and skills of people. A knowledgeable workforce can drive increase of productivity, which is caused by human capital development. Where human capital increases in every levels, it increases productivity in every sector of life. that's my input.
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Personally I would say the central body of a state (country) and their policies.
What's the essence of been blessed with natural resources, human resources,techological resources, capital resources and it's not properly utilised.
Development in a country is not really centered on her resources but it's a factor.
Let's use this scenario
Who would win a race between a man with a car but can't start it nor drive with and one that's a runner with above average stamina. It doesn't take a genius to deduce the winner.
Resources held by a country is an advantage but not a guarantee of success. There are countries that are relatively less blessed but are performing well than those blessed.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
I also believe that education is really necessary. An trained staff is required for a healthy economy. Education enables people to develop the skills required to be good employees and leaders. It also teaches kids the value of saving and investing, which can contribute to an economy with greater stability. Furthermore, an educated workforce can assist a country attract fresh businesses and investment, which helps boost the economy. So it's a positive cycle: greater education leads to a better economy, which means more money to be spent in education.
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Here it is very important to take into account and accept one nuance - it is necessary to realize that the modern world is becoming technological, moving away from the concept of resource-based. Yes, resources are good, yes they are still needed, but... Without technology, it is difficult to extract resources, difficult to process them, and almost impossible to create high-tech goods from resources. If we go back 300-500 years ago - yes, there the world was exclusively raw materials, because for the production of 99.99% of everything necessary man needed only resources, physical force and primitive mechanization. Now the world has changed dramatically. Technology is now at the helm. I am about to say a thought that is not very pleasant to some countries, but it is also a fact - a technologically backward country with resources, for "papers" of a high-tech country - will get any resources, send them nicely, exchanging a huge amount of its resources for a small amount of papers of a high-tech country.
Therefore - stimulating the economy and gaining advantages - through the development of technology, education, attracting investment
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
I also believe that education is really necessary. An trained staff is required for a healthy economy. Education enables people to develop the skills required to be good employees and leaders. It also teaches kids the value of saving and investing, which can contribute to an economy with greater stability. Furthermore, an educated workforce can assist a country attract fresh businesses and investment, which helps boost the economy. So it's a positive cycle: greater education leads to a better economy, which means more money to be spent in education.
Quality Education is good for the citizens too, but how does it contributes to the economy?
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What do you think is the main factor that affects a country's economy positively today?
Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they is rich in oil and natural gases.
Ideally, natural resources can boost a country's economy since they can bring prosperity to a country by attracting investors thereby paving the way for citizens to work and improve the economy but in Nigeria, our natural resources have not brought about prosperity in the country. Sadly, we export our natural resources to different countries and these countries will process the natural resources and then we import the finished product at a higher cost.
So, basing my argument on Nigeria, I disagree with you that natural resources are the main factor that can boost a country's economy. Natural resources cannot harness itself and bring prosperity to a country but rather policies in place as mentioned by the OP are what matters. Whether natural resources become a cause or a blessing to a country depends on government policies regarding its importation and exportation or how it can be harnessed locally to boost the country's economy.
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There are several factors that can boost a country economy based on some criteria that are to be set up for betterment of the country. The openness to encourage the exchange of technologies which further to boost the economy, attraction of foreign investment to its economy, stable government skilled workforce and other natural resources
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In very brief, I would emphasize several key aspects for the effective development of the country's economy:
- Participation in quality alliances, and building good neighborly relations with other countries. And accordingly not to participate in dubious alliances, and the absence of interconnection with rogue countries and countries with criminal regimes.
- Legislation focused on the development of private business.
- Real fight against corruption and its minimization
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
A country's economic condition is strengthened only when the country's natural resources and man-made resources grow greatly in that country. No matter how productive a country is, the economic condition of that country will not be good unless it is able to utilize its man power properly. But the economic condition of my country Bangladesh is so bad that no matter how productive the economy is in my country, no matter how advanced the manpower of my country is, the political condition of my country is not good at all. Bad language that is not in a state to express.
I basically think that if the political context of a country is good and if there is less corruption in that country, if that country does not have manpower then that country must achieve economic prosperity and solvency in one way or another. Even though our country has 100% manpower positive we are one of the least developed low income countries in the world only because of political instability.
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What do you think is the main factor that affects a country's economy positively today?
Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they is rich in oil and natural gases.
Ideally, natural resources can boost a country's economy since they can bring prosperity to a country by attracting investors thereby paving the way for citizens to work and improve the economy but in Nigeria, our natural resources have not brought about prosperity in the country. Sadly, we export our natural resources to different countries and these countries will process the natural resources and then we import the finished product at a higher cost.
So, basing my argument on Nigeria, I disagree with you that natural resources are the main factor that can boost a country's economy. Natural resources cannot harness itself and bring prosperity to a country but rather policies in place as mentioned by the OP are what matters. Whether natural resources become a cause or a blessing to a country depends on government policies regarding its importation and exportation or how it can be harnessed locally to boost the country's economy.
That's unfortunate. If the government of Nigeria only knows how and what correct policy to implement, importing it to other countries will not be the only option to sustain the economy of the country. What the government needs in your country is to give more attention and invest in those natural resources to make it grow and be one to be the biggest possible sources of income to boost the economy.
But we cannot remove the fact that in some other countries, the same as stated above, the government is making use of their natural resources for the better of their country's economic status. It can be the main factor or not, mainly depending on the governance of different countries.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
Micro, small and medium enterprises are the main drivers and pillars of the economy in Indonesia, and these MSMEs have proven to be resilient in facing the Covid pandemic. This is because MSMEs produce consumer goods and services that are close to people's needs. MSME business actors generally utilize local resources, whether for human resources, capital, raw materials, and equipment and do not use imported raw materials and finally MSMEs do not rely on capital from the banking sector, so they are not affected by interest rates or dollar fluctuations.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In my opinion, a positive thing that can be seen as progress in a country's economy is when the unemployment rate decreases and the level of people's purchasing power increases. And the characteristics of a country's economy declining are when people's purchasing power decreases. Usually the increase in people's purchasing power is also marked by an increase in the number of small businesses and the emergence of private companies owned by local communities that can absorb more workers in the surrounding area. Export and import do play an important role too, but that's at an advanced level.
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In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In my opinion, a positive thing that can be seen as progress in a country's economy is when the unemployment rate decreases and the level of people's purchasing power increases. And the characteristics of a country's economy declining are when people's purchasing power decreases. Usually the increase in people's purchasing power is also marked by an increase in the number of small businesses and the emergence of private companies owned by local communities that can absorb more workers in the surrounding area. Export and import do play an important role too, but that's at an advanced level.
Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
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I would say the industry level of the country and young people. Besides, a high level of consumer is necessary to activate the economy.
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I would say the industry level of the country and young people. Besides, a high level of consumer is necessary to activate the economy.
Here in my country, we send people abroad to work and then these workers send money back home and that has huge impact in our economy. I just forgot the exact term for that but that is one factor that boosts our country's economy.
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It is as simple as that to say infrastructures produces economy revenues and also attracts foreign investors including cooperative affairs.
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What do you think is the main factor that affects a country's economy positively today?
The major thing that will boost the economy of a country is good leadership. When you have good leaders in the country they will enact good economy policies, that will cause the economy of the country to be strengthen and grow stronger. So the major criteria,for economy of the country to grow is good leadership. That's my opinion.
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It is as simple as that to say infrastructures produces economy revenues and also attracts foreign investors including cooperative affairs.
True but that if there were no anomalies or corruption happening in a specific country. Taxes and investments will fall just because of unstable economy caused by the mismanagement of politicians and foreign investments will no longer give a try due to the fact that there is an economic instability and conflicts.
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Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value. A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
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Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value. A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
Yeah exactly that is actually had happened here in my country a lot of corrupt politicians I think majority of them has anomalies. Our country is rish in natural resources but we are having a hard time extracting and processing it to the final product so that's where we rely on other country's high technology which will also be having shares from the profit of extracted mineral. This actually a never ending problem if we are talking about politics which controls the entire country including those resources.
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Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.
Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value. A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
Yeah exactly that is actually had happened here in my country a lot of corrupt politicians I think majority of them has anomalies. Our country is rish in natural resources but we are having a hard time extracting and processing it to the final product so that's where we rely on other country's high technology which will also be having shares from the profit of extracted mineral. This actually a never ending problem if we are talking about politics which controls the entire country including those resources.
The problem of corruption elevated to the status of power, through the construction of an oligarchic system of power sharing, is also well known in my country ... I am ashamed and unpleasant, but it is true. But I have to note that the population of my country's "patience broke" at the end of 2013, and the oligarchic-corrupt government was destroyed. No, I will not make up a fairy tale that such a model of power was completely destroyed, but there are still elements of it. But if no action is taken, after some time the power in the country will become absolute, total, and it will no longer have the slightest interest in the population. And we can observe many such examples. It should be added - having TOTAL power, local "gods" do not think about the efficiency of the economy, they are interested only in money. The disenfranchised population will extract resources for pennies, the authorities will sell it at their discretion, and 99% of the income will remain in their pockets. And the population will be told about "external enemies", "world conspiracy", "insidious capitalists", etc. "fairy tales". Therefore, we must realize that the population of the country is the power. Presidents, ministers, deputies are hired managers, hired by the population of the country and paid by the population of the country. And the population of the country, as an employer, should manage these "hired personnel" but not vice versa.
And hired managers should offer solutions to increase efficiency:
- economy and industry
- social, domestic and foreign policy
- defense
etc.
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These days there are various factors that aid to the economic development of a country. Good political relationship with Western countries are very important for economic growth. If a country is to grow consistently then it has to have long term plan; moreover political stability is also very important.