economicmiracles.com ltd
The consultancy for accelerating economic development
World Economic Development 10 Key Messages FAQs
Feedback Index to Major National Economies Grading system for development
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The consultancy for accelerating economic development World Economic Development 10 Key Messages FAQs Feedback Index to Major National Economies Grading system for development
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Grading system for economic development levels Index to Major National Economies The Child's guide to investment credit economics Economic discussion and arguments
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12 Frequently Asked Questions 1 Why should we employ you? We can do it all ourselves, because you've given away all the answers on this web site. If you think you can accelerate the economic growth of your country using the information on this website, please do so. We hope you can. That is one of the main purposes of this website. But there are some things we can do for you which you can't do for yourself 2 What can Economic Miracles Ltd do for my country? We can do three main things: First, we can give you a quick report on the opportunities facing your country and how best to introduce the attitudes, procedures and processes that underlie rapid economic development. Second, by providing economic education, discussion, seminars and training we can ensure that both you and your colleagues fully understand these growth-accelerating systems, and hence will be more likely to make a success of these. Third we can provide some continuing support and consultancy advice to help you through the problems and dangers of rapid economic transition. 3 What dangers are there in this system? What's the downside of these developments? An uncontrolled system of credit creation runs the risk of very rapid inflation rates and possible economic collapse. The danger of lopsided development also exists. It is essential to pay attention to the Carrington Limits - economies cannot grow much faster than about 10% a year, and although this will not prevent some from trying to do so, there may be great risks in that attempt. 4 Why doesn't everybody know this? If economic development were as easy as you say, why aren't all countries doing it? Knowledge and information spreads very slowly in the natural state of things. What seems to happen is that one country learns a better way of doing things, and this is noticed and imitated by their neighbours. Hence industrialisation, starting in Britain, spread first to the nations of mainland Europe and to northern America. This system of economic acceleration, created in Roosevelt's USA, spread first to post-war Japan, then to Japan's neighbours and to China. In the modern world, there is no need for things to happen like that. The USA and the IMF are not keen on this system despite the fact that the USA seems to have invented it. This system could create "Capital without capitalism" and can and will change the power structures of the world. See the Third Chapter of "Lucky Bastards of the 20th Century - the Story of the Economic Bomb" 5 What are you not telling us on this web site that we would need to know to apply this new knowledge? There is an old joke which says that there are two secrets of success. The first one is never to tell anyone everything you know 6 But seriously - what else can you add? We can add to your understanding of this interesting, complicated and beautiful new system. All teaching is intermediated learning, and we can teach you about this system - about how it works, how to make it work for your country, how to build systems to ensure it really works - better than you could learn about it yourself. And we can motivate you to achieve, to do what no one before you has done. Above all that, we could make you understand this new system not as a cold economic theory but as the vibrant process it is. We could motivate your businessmen, economists, and other colleagues to make this work in your country. I, George Edwards, the main author of this website, believe in this system to the roots of my being, and I can communicate that belief, that commitment, and that understanding. 7 But all you will really be adding is speed! You will only be helping the future to happen faster, won't you? We'll all be doing this eventually, if what you say in your fifth book is true. That is largely valid. All we will be adding is speed, and making economic development happen sooner and perhaps a bit better. That is not a small advantage - look at the cases of the United Kingdom, the USA and China and their past and future power. we repeat, if you think you can accelerate the economic growth of your country using the information on this website, please do so. There are many things we can do for you which you can't do for yourself, but you must judge for yourself whether you need them. 8 Why does rapid economic development matter? Economic growth is the name that we give to that process which continuously increases the value of human life as against the value of goods. Development matters because life matters. Inadequate water and too little food is killing people in poorer countries. Even in a comparatively rich country like Britain, some treatments for diseases and illnesses are said to be "not economically justified" in the health service. In many of the countries of the world, it seems like a race between economic development and disaster, and in some countries disaster seems to be winning. That need not be. All people could have the chance of a richer, more happy life with broader horizons than those now constrained by grinding poverty. And. as this site makes abundantly clear, it may be a race between development and unification or underdevelopment and annihilation. 9 Where can I find the answers to which you refer? Many of these are in the books and articles on this website - for example, you could read the relevant chapters of my fifth book, "Lucky Bastards of the 20th Century - The Story of the Economic Bomb." And you could read the books and articles listed here. 10 Why do the USA, Japan and China not teach this method of attaining rapid economic development? After all, they have used it. We don't know why they don't teach this. Why do you think they don't? One can only speculate on why they don't. There may be several possible reasons. Investment credit lowers the interest rate, which contributes towards a boom in stock market values, but the total effects are very complex. Many of the politicians in the post-war USA saw investment credit as an unpleasant wartime necessity, which smacked of state planning and the creation of the welfare state which Roosevelt started, so they were against it for ideological reasons Of course, most British and American economists don't understand high-growth economics at all. Maybe economics is not properly taught in Europe and America because their economists failed to realise the significance of what the USA had done during wartime. Many Asian economists seem to understand high growth economics. Why don't they teach it to other countries? They do train their own people in the subject. Japan has used investment credit creation to establish and maintain a comparative advantage. Perhaps that advantage would be reduced if others practised investment credit. China is not yet developed. If Chinese economists taught other countries of the world how to grow rapidly, the position of China in the world would improve at a comparatively slower rate than it is doing. This might have implications for Chinese diplomacy - for example, the Chinese might need to be more circumspect in their border disputes with India and Russia if both these economies were growing at 10% a year. But all this is a poor guess at other people's motives, which inherently cannot be known. 11 What is the key difference between investment credit economies and the others? The economies which have practised Investment credit - the USA, Japan and China are prime examples - are mainly organised to provide for their people. Each of these economies has solved the trading problem and is free to develop their internal empires. (The European Union is an intermediate case.) The developing and less developed economies which do not practise investment credit are short of capital. Therefore they need foreign investment. The purpose of that foreign investment is usually to serve the needs of the economy from which it came, hence "capital colonisation." Therefore one major purpose of the economy is to service the needs of that investment by providing profits and goods to the external economy. Some developing countries have the worst of all worlds, with the colonial regime now supplanted by a local military leader whose troops are more corrupt and less inhibited than an occupying army would be, with the function of the economy subverted to provide for its local military elite and for foreign investors and foreign countries. The key difference between the investment credit economies and the rest is that the investment credit economies provide mainly for their domestic markets, while the developing countries are largely organised to develop by providing for foreign demands. 12 How do I contact you? Fill in the feedback form below. Or telephone us at the contact numbers given below, or write to as at the address given below, Contact Information
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