What are the Building Blocks for Wealth and Prosperity?
Reduced to their essence, wealth and prosperity are the result of an ever increasing demand for finished goods. The four building blocks to create wealth and prosperity are the demand for finished goods, the natural resources which provide the raw materials, the energy required for production, and the human creative spirit to imagine and create the vast cornucopia of things people want and need.
Now that we are in a great national recession and part of a great world recession, let’s look at how a nation may approach aspects of wealth and prosperity.
How can the United States help restore the flow of wealth to its organizations and its people? The governing institutions can have, if they choose, a large positive affect on three of the four building blocks and have a significant effect on the fourth component.
First we need to make a friendly environment for the harvest of natural resources. Ease of obtaining permits, reduced regulation and research initiatives for the discovery of future natural resource reserves. There can be regulatory and environmental considerations, but they can not be hostile or repressive to the effect of bringing the harvesting of resources to a crawl or a stand still. Continue reading