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Economic Principles

THE POVERTY OF NATIONS: A SUSTAINABLE SOLUTION

Composite List of Factors That Will Enable a Nation to Overcome Poverty

 

A. The Nation’s Economic System (details in chapter 4)

1. The nation has a free-market economy. (131–221)

2. The nation has widespread private ownership of property.

(141–54)

3. The nation has an easy and quick process for people to

gain documented, legally binding ownership of property.

(149–54)

4. The nation maintains a stable currency. (155–58)

5. The nation has relatively low tax rates. (158–62)

6. The nation is annually improving its score on an international

index of economic freedom. (162)

 

 

B. The Nation’s Government (details in chapter 7)

1. Every person in the nation is equally accountable to the

laws (including wealthy and powerful people). (225–26)

2. The nation’s courts show no favoritism or bias, but enforce

justice impartially. (227)

3. Bribery and corruption are rare in government offices,

and they are quickly punished when discovered. (227–29)

4. The nation’s government has adequate power to maintain

governmental stability and to prevent crime. (229–30)

5. There are adequate limits on the powers of the nation’s

government so that personal freedoms are protected.

(230–33)

6. The powers of the government are clearly separated

between national, regional, and local levels, and between

different branches at each level. (234–36)

7. The government is accountable to the people through

regular, fair, open elections, and through freedom of the

press and free access to information about government

activities. (236–39)

8. The government adequately protects citizens against

crime. (239–41)

9. The government adequately protects citizens against

epidemics of disease. (241–42)

10. The nation’s legal system adequately protects people

and businesses against violations of contracts. (242–43)

11. The nation’s legal system adequately protects people

and businesses against violations of patents and copyrights.

(243–46)

12. The government effectively protects the nation against

foreign invasion. (246–48)

13. The government avoids useless wars of conquest

against other nations. (248–50)

14. The nation’s laws protect the country against destruction

of its environment. (250–52)

15. The nation requires universal education of children up

to a level where people are able to earn a living and contribute

positively to society. (253–56)

16. The nation’s laws protect and give some economic

incentives to stable family structures. (256–57)

17. The nation’s laws protect freedom of religion for all

religious groups and give some benefits to religions generally.

(258)

 

 

C. The Nation’s Freedoms (details in chapter 8)

1. Everyone in the nation has freedom to own property.

(263)

2. Everyone in the nation has freedom to buy and sell

goods and services, so that there are no protected monopolies.

(263–64)

3. Everyone in the nation has freedom to travel and transport

goods anywhere within the nation. (264–67)

4. Everyone in the nation has freedom to relocate anywhere

within the nation. (267)

5. Everyone in the nation has freedom to trade with other

countries without dealing with restrictive quotas or tariffs.

(267–269)

6. Everyone in the nation has freedom to start and register

a business quickly and inexpensively. (269–271)

7. Everyone in the nation has freedom from expensive and

burdensome government regulations. (271–72)

8. Everyone in the nation has freedom from demands for

bribes. (272–75)

9. Everyone in the nation has freedom to work in whatever

job he or she chooses. (275–77)

10. Every worker in the nation has freedom to be rewarded

for his or her work at a level that motivates good job

performance. (277–78)

11. Every employer has freedom to hire and fire employees

based on job performance and changing business cycles.

(278–79)

12. Every employer in the nation has freedom to hire and

promote employees based on merit, regardless of family

connections or personal relationships. (279–80)

13. Everyone in the nation has freedom to use the earth’s

resources wisely, and particularly to utilize any type of

energy resource. (280–84)

14. Everyone in the nation has freedom to change and

adopt newer, more effective means of work and production.

(284–85)

15. Everyone in the nation has freedom to access useful

knowledge, inventions, and technological developments.

(285–91)

16. Everyone in the nation has freedom to be educated.

(291–92)

17. Every woman in the nation has the same educational,

economic, and political freedoms as men. (292–93)

18. Everyone in the nation, from every national, religious,

racial, and ethnic origin, has the same educational, economic,

and political freedoms as those from other backgrounds.

(294–97)

19. Everyone in the nation has freedom to move upward in

social and economic status. (297–300)

20. Everyone in the nation has freedom to become wealthy

by legal means. (301–7)

21. Everyone in the nation has freedom to practice any

religion (307)

 

 

D. The Nation’s Values (details in chapter 9)

1. The society in general believes that there is a God who

will hold all people accountable for their actions. (318–19)

2. The society in general believes that God approves of

several character traits related to work and productivity.

(319–22)

3. The society in general values truthfulness. (322–24)

4. The society in general respects private ownership of

property. (324–26)

5. The society in general gives honor to several other moral

values. (326–29)

6. The society in general believes that there are both good

and evil in every human heart. (329–30)

7. The society in general believes that individuals are responsible

for their actions. (330–31)

8. The society in general highly values individual freedom.

(331–32)

9. The society in general opposes discrimination against

people on the basis of race, gender, or religion. (332)

10. The society in general honors marriage between one

man and one woman. (333–34)

11. The society in general values permanency of marriage

and has a low divorce rate. (334–35)

12. The society in general believes that human beings

are more important than all other creatures on the earth.

(335–36)

13. The society in general believes that the earth is here for

the use and benefit of human beings. (336–37)

14. The society in general believes that economic development

is a good thing and shows the excellence of the earth.

(337–38)

15. The society in general believes that the earth’s resources

will never be exhausted. (339–40)

16. The society in general believes that the earth is orderly

and subject to rational investigation. (340–41)

17. The society in general believes that the earth is a place

of opportunity. (341)

18. The society in general believes that time is linear and

therefore there is hope for improvement in the lives of human

beings and nations. (341–42)

19. The society in general believes that time is a valuable

resource and should be used wisely. (342–43)

20. The society in general manifests a widespread desire

to improve on life, to do better, to innovate, and to become

more productive. (343–44)

21. The society in general is open to change, and people

therefore work to solve problems and make things better.

(344–45)

22. The society in general gives honor to productive work.

(345–48)

23. The society in general gives honor to economically

productive people, companies, inventions, and careers.

(348–50)

24. The society’s business owners and workers in general

view their companies primarily as means of providing

customers with things of value, for which they will then be

paid according to that value. (350–51)

25. The society in general places a high value on savings in

contrast to spending. (351)

26. The society in general believes that mutual gains come

from voluntary exchanges, and therefore a business deal

is “good” if it brings benefits to both buyer and seller.

(351–53)

27. The society in general values knowledge from any

source and makes it widely available. (353–54)

28. The society in general values a highly trained workforce.

(354–55)

29. The society in general assumes that there must be a

rational basis for knowledge and recognized channels for

spreading and testing knowledge. (355–56)

30. The society in general demonstrates a humble willingness

to learn from other people, other nations, and members

of other religions. (356–57)

31. The society in general believes that the purpose of

government is to serve the nation and bring benefit to the

people as a whole. (358–59)

32. The society in general believes that government should

punish evil and promote good. (359)

33. The society in general values patriotism and reinforces

a shared sense of national identity and purpose. (359–64)

34. The society in general counts family, friends, and joy in

life as more important than material wealth. (364–66)

35. The society in general counts spiritual well-being and

a relationship with God as more important than material

wealth. (366–67)

Source:

Wayne Grudem - The Poverty of Nations


Free Enterprise and Economics

Free Enterprise


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