We have learned that spending is more important than saving money when countries are poor – it is the productivity that needs to increase, you can not take the last piece of bread from a hungry man, you need to help him become able to get more bread. Public banks risk public money but don’t lend enough of it and when the shit hits the fan it is again public money that bails them out. However, when business is good, public does not get any dividends.
Public banks should raise the minimum wage in countries by directly transferring a certain amount of money to those with jobs and minimal income. They should raise the minimum income directly. The cost/benefit would be great because if we wanted to have the government do that somehow, any country, this is guaranteed, would have spend at least twice more because they would have to finance their people to do it. And their people either don’t have the time or don’t know how to do it. That’s why the banks should.
This would help boost SME’s and private expenditures much faster and much more efficiently than any loans, grants ect..
We need a realistic valuation that is based on irrefutable laws of nature.
The value of anything material should be defined so that it can be broken down into most basic elements defined by energy and natural resources input in producing it. A pound of meat is 1/2000 of a cow that ate X kg of smth, drank Y gallons of water, and whose owner put XY amount of energy into ‘making’ the cow into what she is now. A 1/2000 piece of meat and bones.
We also need one currency to disperse factors of valuation and minimize strategic valuation creation of currencies.
In addition, financial valuation of any material thing should be divided into three parts which should be known to all parties involved: the conditions to produce, the production process, preparation and transport. I believe this would indeed spur development into the direction of local production. One does need to keep in mind though, that no country should depend solely on themselves for any life-critical item or service. If a natural disaster or war hits one country, and this country is not huge, chances are they would be helpless.