James Allen who is the writer of the ‘Path of Prosperity’ said, “Both men were successful in their careers, working hard in their lives. Both earned substantial incomes. Yet one struggled financially in his life. The other would become one of the richest men in Hawaii. One died leaving tens of millions to his family, charities and other duties. The other left bill to be paid.”
Firstly, what the economics of investment I want to define is that the difference between rich nations and poor nations is that the rich know the difference between an asset and a liability. Any thing that accumulates prosperity- that actually puts in each country is an asset. Every thing we own that we think is an asset. The thing that makes prosperity out of our pocket is a liability. One of the strategies we need to use is that we need to concentrate on investing in a country where we belong. If there is investment out side of our country, eventually, that is the one factor of creating liability- losing prosperity and dignity. So, let me share ideas to know how we can concentrate on the economics of investment for prosperity and dignity.
One reason why we could lose our prosperity and dignity is that we have learned a lot of economic philosophies that are educating us to invest our resource not in the motherland. Through many media, we have learned about liberalism, conservatism, Marxism, Neo liberalism, Neo liberal institutionalism, social democracy, communism, capitalism, socialism, and radicalism and Alqaeda and terrorism and so on to get trained in order to serve out of one’s country. All these educational philosophies are making people customers of products produced in multinational corporations.
In this sense, there is educational twisting to make economics more abstract by creating different confusing schools of economics. For example, there are Blue schools which are simply similar to market and capital (mercantilist, physiocrats, medieval economics, the Roman Empire, pre-historic and nonwestern-smith’s).
The Red school of economics is not Marxism but a weak negation of the Blue Schools. The Green school of economics is a strong negation of the Blue schools which is based on civil society, local self reliance and dialogue and nature development. And the Pink school of economics is mixed or negotiation economy. The Yellow School is simply a combination between the Blue and the Red though both negate each other, they permit contradictions. Finally, the Rainbow schools is a mixture of the Yellow, the Pink and the Green-Never market, state or local alone but combine three of them in order to have resilience.
These economic behaviors influence us even in believing who we are. If one understands what I am saying, our outlooks on economics of investment needs due consideration, because, the idea of economics of investment should concentrate on the application of nation’s choices. Our national choices should promote economic ties to embark up on the path towards common growth, harmony and common weal. The resources we have should be organized in the way we could find national priorities. We should contribute something worth as long as we are unique to this world. Economics of investment is not giving us way to use try and error strategy. It helps us dignify our contribution in the nation building. Investing in a country where there is no security, respect, integrity, it is just burying your money in the sandy beaches.
But if we invest in Eritrea, we have not only dignity and prosperity, but also the people will appreciate our contribution, because we create job opportunities. To be exact, Eritrean people never have the habit of stealing money from the one who contributes great idea. Eritrean people are civilized society who appreciates those investors who bring ideas, products and services that have good contact with the original manufacturers. Because it guarantees durability, marketability and healthiness.
The other way towards economics of investment is to make one nation geographically strong with its resources, organizationally capable, institutionally creative and intellectually curios and culturally literate in approach to market our ideas. It is about investing for our children. Investing in a place where we never belong affects not only to ourselves, but also to the children we think we love. For, using the theory of ‘comparative advantage’ deters us to have the endeavor to equal or surpass others in any achievement or quality or desire or ambition to equal or to excel. Simply, we need to have conscious strategies of emulation which governs the market. Critically, we need to be prosperity conscious, not to be poverty conscious. Holistically, we need to have a safe haven where we could place our treasure, our children, and our life imbued with forbearance, happiness, institutionalization of communication and security. With this gesture of investment, it is swell idea to contribute what we have to keep this beacon of peace. Without this flag of beacon of peace, with out having citizenship, with out a country we are proud of, whatever money we invest doesn’t count us we are living in this world dignified.
From this, we can understand that economics of investment gives tendency to solve problems according to esoteric and abstract principles not to be solved by standard texts we could find in the economics books. For, there are theories built from ground up wards. Having this in mind, to develop, we need both of them, just as we need right and left foot in order to walk.
Contemporarily speaking, we are building our nation not because we are following the above mentioned economics, but we concentrate on our culture of unselfishness. We share what we have and we can develop. If we depend on our culture, we can develop. If we read how wealthy nations are developing, we can develop. We should not be told to do what we have to do. Particularly, since we are educating our youth how these wealthy nations are developing, and know what potentials we have in our country, definitely, our youth will feel responsibility to emulate and explore the wealth this nation has. To develop does not mean also we need to go to the place where the money is. But to develop means to increase the source of incomes and activity specific, concentration on economic matters and economic return that goes with imperfect competition. I am not saying competing to danger. I am saying that economics of investment is creativity and innovation by being who we are. Because, out of one’s identity, no body care whether you do good or bad. Eventually, even you don’t have guarantee to claim your wealth.