The way I see economic policy now is all about a zero-sum game focused on short term gains. Nationalism feels like an archaic method of governance as we become a more integrated society and our interest aren't all easily aligned as it once was or once thought it would turn out to be. Nationalism has brought on a level of protectionism, at least our country is not as big a shit hole as theirs so we must protect against the immigrants.
They're going to steal our wealth and tap the system dry nevermind the fact that the rich continue to take more of the wealth each year through a rigged trickle-up financial system.
We've taken on a Beggar thy neighbour approach to foreign policy and it's coming back to bite us in the arse. For those not familiar with the term Beggar thy neighbour used to describe a set of policies that a country enacts to address its economic woes that, in turn, actually worsen the economic problems of other countries. The term comes from the policy's impact, as it makes a beggar out of neighbouring countries.
Image path - liberaldictionary.com
It takes two to take down economies
Instead of allocating wealth more effectively through global trade and the various arbitrage opportunities available when you trade internationally we've had people at the helm make deals to benefit themselves personally and not looking at the long term improvements of the country or industries they affect. This short-sightedness leads to countries trying to one-up one another with trade deals or exploit certain markets who are open to free trade and are looking to contribute to the global economy.
But it's not just the big economies at fault, there is a myriad of examples of small countries or impoverished countries that sell out their natural resources to larger economies for pennies on the dollar as long as they get their person kickback. Both parties are at fault looking at self-interest and instead create these cash flow problems where it becomes hoarded at the top and very little reaches the real economy.
So when you think of people moving to another country for a better life, we shouldn't just think that oh their country is shit but the fact that all countries are contributing to pushing one another under the bus and citizens are simply collateral damage.
A rising tide raises all ships
While we haven't all become beggars just yet and the money printing keeps going to paper over the mistakes we will continue to apply short term strategies. Perhaps one day with fixed money supply and a look at long term sustainable growth and free trade by reducing the ideals of nationalism and protectionism will help spread the wealth to more productive people, companies and regions and as we uplift the bottom, everyone improves as a rising tide raises all ships.
The poorer we uplift by having more disposable income the more customer we create, the more demand we create the better the economies of the world will do. Instead, we're cannibalising as much of it as we can't keep the game of hot potato going anymore.
Have your say
What do you good people of steem think?
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