Topic: Let's imagine you were the president of your country, How would your Economic - page 4. (Read 703 times)

Can't do a lot if my country is too reliant on other countries. This is what I want to avoid in terms of topics as politics do really divide people. But let's say I've got that position, I'll remove all of those branches and agencies in the government that I think don't really need and don't do that much. They're consuming a lot of money from the public's fund and it's likely that it's being put into waste by having such. While that fund that should be on them, I'll put it on use for the better like going on with it on more useful to the public which they'll see that their taxes are spent wisely.

For a start
If I were in a position to and also able to change my country’s economic situation for the better, I would start by changing some old and outdated laws and policies and bringing in some reforms that would encourage more people to go into entrepreneurship.

Without adequate security, there can be no meaningful change that would affect the economic growth and development of the nation. Hence, I might be willing to consider a pay increase for security agencies. Along with a pay increase, a more adequate training program would be implemented to keep these agencies up to speed.

With adequate security, growth and foreign investment could slowly begin to take place. Foreign investment wouldn’t come overnight. Investors would need to see a business opportunity that would bring in profits for them to come in. So, investment in education and skill acquisition would also be a priority.

Easier said than done, but I would also try(with the recently implemented policies)to make everyone pay their fair share in taxes.

This is a good point
Even a PM would need to have a strong majority in the parliament to make a change. There's always the Senate that can delay you, the president can work for or against you...
You'd need the power of a dictatorship to really have some freedom.

Since I'm a libertarian, I'd start with the law. I'd get the best people to help me remake the laws regarding taxes, civil lawsuits and so on.
I would remove laws that limit free markets, investments, of course move the country away from Keynesian economics and more towards the good old sound money standard.
No more money printing, no more overspending, no more pushing the country into debt. You spend the money that you have, you invest in technologies that allow you to save money and that actually benefit the country, not the whole world. Nowadays countries, especially in Europe, want to be the ones showing the rest of the world how they can be green and doing it at the cost of their own citizens.
Last but not least, I'd never allow for CBDCs, population control, 15 minute cities and all the rest of it.

You basically have to optimize the strongest points of your economy, if that is oil then you need to be like Norway that have built a sovereign wealth fund which will earn them cash far after the oil runs out and is used for the general public instead of squeezing funds out to just a relatively few amount of shareholders. If you are a small island nation then you need to maximize your tourist services, but things like the internet can offer benefits too. You'd really need to make sure that your people are educated to the highest standard, because even if they cannot earn money at home there is the possibility to emigrate to more successful economies and send money back to their country of origin which can help it grow too. There's no single or simple answer.

Even if having the powers to do everything you can being the president, economy is a large scale that even a president can do nothing when it's already too big to manage.

We'll never know if there are bigger people behind a country's economy and they can make economic sabotage. But with policies, there can be something that I would like to do.

Like having a lesser tax and lesser budget for the public officials to see who are really the ones that's wanting to be a public servant but I don't know, this can end up into corruption so that thought of mine will still be useless.

I was waiting for somebody to say this, the president might not even have the power to do something in some countries.
I doubt that 1% of Europeans know who the president of Germany for example is.
The trick question would be to name the president of the Netherlands or Canada!


And if you lower taxes how are you going to pay for the rest? 
Before you even say it, let's assume Congo or Rwanda lowers its tax to zero, do you see an influx in business?
Easy to "fix" problems in countries that are developed but what are you going to do when there is nothing, like literally nothing in your country that you've become president?

I can't imagine being the president of any country. This is the same as dressing a fat person in a white dress and sending a ballet to the stage. Ridiculous, in a word.

Everyone should do the work in which he is competent. Any president in matters of economics should first of all consult with experts in the relevant field. Self-activity is not allowed and is fraught with economic problems. You know that story with one Turkish country, in which the president fired all specialists (consultants) in the field of economics and began to make decisions without permission, and what this led to. I am not strong in economic matters and I have no experience of the presidency, therefore, for sure, my actions would have turned out to be incompetent.

If I had such a dream and it came true, then the subjects of the country would bitterly regret what happened. Absolutely

I don't know if you know this, but the president usually has very limited power, unless it's some sort of authoritarian regime and a person is just called 'president' but is much more than that. In many countries, the position of the president holds no official power, merely serving as a representative function for international relations and unity within the country. In my country, the president has some oversight over other branches of power, but the economy is the prerogative of the Prime minister and the government (the Cabinet of Ministers). So if I were the president, there wouldn't be much I could do about our economy, apart from being publicly against corruption, perhaps negotiating deals for foreign aid and suggesting ideas which would need to be developed in the Parliament.
Considering that my country is in an active state of war against another country, and it's not the kind of war we can just stop, all the state budget goes for military purposes. I think the economy is bound to suffer under such conditions, and the goal is to merely keep it afloat. After the war's over, I think focusing on what needs to be done (and lots of things will need to be done, like repairing tons of infrastructure, working in important political issues) will stimulate the economy. If there's something that needs to be fixed, people are needed. People get employed, and receive money for their work. Then this money enters the flow, and that stimulates the economy even more.

the current global economy affects all continents and countries to varying degrees. To address this, an intelligent president could establish an institution dedicated to analyzing the world's economic state, its impact on the country, and methods to prevent future economic crises. This institution would assess current economic conditions, identify risks, and propose proactive measures to safeguard the economy. It would also promote international cooperation to collectively address global economic challenges and foster sustainable growth.

I can't imagine myself being the president since I don't know how to run a country. And being in the highest position is a tough one. You can't make everything better in a short period of time.  But I will probably put the professionals in the appropriate positions. Since it's very common in our country where government officials who have no knowledge in the field but still end up getting the position just because they're on great terms with the president or the higher officials. I would want to give importance to our agricultural sector since it's the backbone of our economy. The agriculture can play a vital role in improving the economy if it's given a priority by the government.

The major problem in my country is corruption. My first task will be to block all the means or loopholes that promote corruption. Within this one year all corrupt government officials will be investigated and stolen funds recovered.

I will also cut the cost of governance. Some government agencies and parastatal that perform similar roles will be scrabbed or merged thereby reducing the cost of operations. Government officials will be mandated to cut thier staff strength because recurrent expenditure is one of the revenue drains of my country. Appointment of government officials will be based on competence and not political patronage.

The next step will be to ensure that our local refineries are working to enable us to stop the importation of petroleum products. Our nations spend so much on imported petroleum products meanwhile the country has enough crude oil.

I will lift the restrictions placed on bitcoin and other cryptocurrencies. Citizens will be given the privilege of choosing between fiat and Bitcoin. Bitcoin awareness and education will prosper because the country will be Bitcoin-friendly. Making my country a crypto hub will not be a bad decision.

The fact that I am the president of a country means that I am the overseer but it does not mean that I really need to know or have an in-depth knowledge of every aspect of how to run the government. Having some knowledge is good but deciding to run the country on some knowledge that I have because I am the president will only ensure that I make more poor decisions. In the area of the economics of the country and how to turn it around and make it better, I will appoint proven professionals in the field of economics that are brilliant and will formulate policies that I will approve, policies that have the ability to make the economy become better. As the president, I will gather a strong team under my government so the best decisions can be made.

In this role it reminds me of a certain movie about a past president and his journey to power, clearly seeing the current problems of a country to set The goal is to try to change everything in the journey. I think our lips themselves are always a small part of this universe, this universe, and each in each position will have different responsibilities, so it's fair to say that economic development has always been secondary to me. that's not what I see in this life, mainstream is freedom without limits, but do we accept a life without competition, competition, greed, envy, doubt and delusion. In fact, there are many things that appear before we appear and we do not try to lose it, but live beyond it. That's why I see the economy as just a small part of life, see it as a way to bring us closer together, not push us apart.

In any ecoonomy, there are two elements to deal with and which are: micro economics and macro economics deficiencies. The micro economics deficiencies bare the economic problem within the country which no government has not able to solve in their various countries. Now these micro economics problems are extended to the macro economics deficiencies in the whole world. So if I becomes a president in my country, I will first deal with the micro economics deficiencies before any other things. And the first thing I would have done is the development of HUMAN CAPITAL. Once I develop the capitals of the citizens, then other economic factors have already been deal with. Then the second thing I would do is infrastructure. Building of school houses, with great technological equipment, roads, hospital with great equipment, and industries, plus Refinaries etc. And finally welcome any great technology that has a potential important to the growth of the economy like cryptocurrency.

Just so you know, when the private sector is more involved in the economy of a country, the more their influence gets bigger because they hold the infrastructures, look at Amazon, they can lay off people in a certain state that didn't do any favor for their growth, that's what's going to happen to a country that has close to no barriers with economy relations with a private sector. Another big example would be the Banana Republics back in the 50s or 60s, these countries were practically controlled by the private companies. Most people who have commented their insights didn't consider that the things they want to add or remove can be a catalyst for cataclysmic economic ruin, you can't just remove banks or do what the majority wants, there is a plan and it needs to be able to do the greatest good so if I became a president, I would just probably lobby to create more jobs, bully corporations to pay their fair share and suppress if not remove the ability of the 1% to avoid taxes.

Realistically there'd be two things I'd do:

Starting off by dissolving central banks would be the immediate course of action. Unfortunately they are so heavily centralized and embedded in the modern economy that it'd would be impossible to remove them outright, so you would need to start with limiting the power of central banks. Setting reserve requirements, controlling interest rates, banking regulations and such, would all need to be taken back to the legislature instead of appointing executives to handle these matters by the President which is how most countries handle central banks. Doing so would take fiscal matters and make them more controllable by the constituency.

Second, limiting money printing and capping it at some proportion relative to nominal GDP. What this exact figure is could be worked out by the legislature, but it must be abided by.

If I get the responsibility of the country's president for one year, the first thing I will do is change the traffic system of my country. Because the traffic system of my country is not very good. People often disobey traffic laws. I will make some restrictions so that people are forced to obey traffic laws. Then I will try to improve the roads. Because the economic development of a country depends a lot on the roads of that country. A lot of money is lost every year due to traffic jams and bad roads. In order to develop the economy of a country, traffic and roads should be focused first. A year is not a very long time. It is possible to plan a lot in a year but it is very difficult to implement the tasks according to that plan.

If I were to become president of my country, I would first try to understand how the poor masses are being affected and then figure out how to address that problem by giving young people access to jobs and that will in return lower the unemployment rate in the country significantly. I'll also use the revenue from our natural resources to create necessities and establish a committee to check on every state governor's performance and how the funds granted to them are being used in the states where they act as governor. 

If I were president of my nation, I would prioritize businesses, tourism, employment, education, and healthcare. To encourage businesses to create jobs, I would decrease taxes and regulations. To aid jobless people in finding employment, I would also put training programs into place. Instead of focusing primarily on health insurance, I would emphasize free market options to assure inexpensive access to healthcare in connection to tackling the nation's healthcare crisis. In the field of education, I would work to increase the efficacy of the educational system by changing it to better accommodate technological changes. Given how stunning my nation is, I would also concentrate on developing tourism there to strengthen its economy.

Being president for one year can't change many things, especially if your country's territory is very large and your country is under developing countries. And even though your country is developing, one year is not enough time to fix everything, especially if all government members are still corrupt.

Maybe it's the corruption issue I'll tackle first because it's rooted for a long time and not easy to remove. And it needs more officers who are honest and clean at work so that I as president, can rely on them. And after arresting them, perhaps the judge could sentence them to life and take all their possessions until they have nothing left or leave little money for the family to survive.

I'm not sure things will change in the next year, especially if there are still many irregularities within the government and corrupt officials. And one year would not be enough to fix a system full of corrupt officials. Maybe 5 years won't be enough as long as the corrupt officers are left alone and there are no heavy sanctions for those who commit corruption.