Topic: What are some not so obvious things that damage a country's economy? - page 8. (Read 6505 times)

I don't think it's transparent in managing a budget, for example infrastructure, etc. Such cases often occur in the most corrupt countries which result in large losses to a country which ultimately damages the country's economy.

it may be theoretically correct what you say in your opinion and to avoid the tax on using crypto currencies in a country, but we can see developing countries can use and legalize crypto currencies as the prevailing currency

many things can damage the economy number one is fraud,corruption that is silent kill the economy we know that not all in the government are loyal they can steal the money from the people. That's why there some country that want of freedom because of greedy people.

Sometimes we don't know how harmful it can be when we make hate speech on the government in the social media. It could leas to chasing away investors and buying of treasury bills too because government need money to run the system.

So saying positive words will encourage more investors.

manipulations. especially the political manipulations can easily affect on the general financial issues of weak countries. that is why they easily play with such countries and make their money more worthless.

the biggest crime that can damage the economy of a country is of course corruption, I think there is nothing else worse than that, credibility and honesty are very important because it is a supporting factor for the formation of a prosperous and prosperous nation, corruption destroys the inner structure like a thorn in meat.

This mentality is more common in Africa, they tend to empower and enrich those who wear suit and speaks English than those who may not have that quality education but have the skills to do more work, these are the people that actually builds the economy of the country, because they are the ones that do the hard labor, but they are not being encouraged to be more productive by giving them different incentives and also training them more on that field.

If you see any country that has very good economy like that of china, you will see that their government encourage people who are skilled and can work  hard than those who sits in the office to steal money, in fact they are more strict with those office workers than the laborers in their country.

For one thing, more entrepreneurs. Josh Tolley, a top business coach & author of the books "Evangelpreneur" and "Quit Your Job Or Die", has pointed out that America has switched from an entrepreneur-based economy to an employee-based economy, which will likely not last very long. One object lesson he has is a 5th(?) grade math book which is smaller and thinner in comparison to today's massive math books of the same grade which teach repetition after repetition after repetition. This book, however, from many decades ago is teaching things such as inventory and other aspects of how to run a business. Today, in the U.S. at least, most people are not teaching their kids to be entrepreneurs, to be creative, to start & manage something, and to run their own schedule & pay, but rather to be employees, to learn repetition, to get a degree and go find a job, to let someone else determine how they spend their day and how much they get paid. Josh also explains how being an employee can actually be bad for your health, believe it or not. He's got a few different places to find him, but beware if you just type him up in Youtube, as he's also got a talk show which talks about a wide variety of interesting subjects, not related to business. Search for videos of him connected with the words like "business", "entrepreneur", etc. His website is www.JoshTolley.com, and he's also got a couple of separate sites for education and business help.

Have a great day,
The Cyberius team.

I think that, first of all, corruption and high taxes force businesses to go into the shadows.  Businessmen in such conditions begin to pay workers an unofficial salary and evade taxes.  Both the quality of the goods and the state budget suffer from this.  There will be no investment in such a business and in such a country.

I do not understand how nobody talked about bureaucratic incompetence. If you are a country that is ally with someone and enemies with another country and do something to the enemy where your ally doesn't support you, you will get bad in economy.

If you are allies with a country that keeps helping you and then you go against them then your economy will get worse. Basically if you do anything bad against any country aside from your enemies which already you act badly then you will get a bad response. There is a very few chances of embargo going around but trade wars are real things and you have to just focus on making more allies these days than ever, you have to be friends with USA AND China, you have to be friends with UK AND Russia, you can't just be picking sides, you have to be Swiss in every regard to get out of this economic mess the whole world is in.

There are so many things that are considered trivial by most people but it has a significant influence on the economic change of a country, the example you mentioned might be pretty good, and I might want to add a few more examples of playing games that are too frequent to forget their obligations  money and people now always underestimate people who have low education even though they can work well

While that seems like a good idea it is never going to happen, governments will always find a way to not reveal some of their expenditures on the grounds that it is better to maintain certain expenditures secret for national security reasons, and as soon as people concede that they will find a way to hide everything using that excuse, the truth is that we need governments to become smaller since a huge government is one of the most important reasons why the economy of a country does not improve since huge taxes have to be paid to keep the government running.

I don’t know about this but I think that attacking the big business in the country is going to ruin their economy. Big businesses are what helps the economy of any country to grow, cause they generate bigger incomes and that will help the economy to grow and when these big companies starts to losing money, uuhmmm… maybe to another company in another country… will affect the country economy I guess . Apart from that another thing that can ruin the economy of any country is inducing a currency crisis, I think everyone knows this one already. That’s the only thing I can say that ruins the economy of any country.

Alcoholism, drug addiction. I think that these factors have a very negative effect on economic growth. This problem is especially acute in countries where the percentage of people suffering from alcoholism is quite high. Economics suffers from the fact that a person does not go to work, makes a defective goods at work, a family suffers, children can be born with diseases and the state will allocate money for their treatment. The situation with drug addiction is even worse than with alcoholism.

The only good thing and at the same time to make economic growth work. That is the basis. I think it will be difficult if it is consumptive. Unless you are paid to eat or become a Tour Guide and some other unique things.

The more we advance in technology and exposure to new things, the more education keeps declining. In my country where unemployment is the major thing damaging the economy, parents are also not encouraged to take the children to where they will have quality education, because they are beginning to see it as waste of money to send a child to a quality school where they will have value for their money.

Some of them claim that if they had known, they would have gathered all the money they used in studying in school for business, because when they finish with their education, they end up not using it for any job as a result of lack of job. The jobs that were mainly helpful which is banking and finance, technology has created lots of application that has taken jobs away from people. So if we want any parent or teacher to give a child too the normal education standard, issue of unemployment needs to be tackled.

Traffic. It is a very simple problem but it takes a lot of discipline and plannning to be solved. It affects greatly the economy of a country. Like in our country, the traffic here is very devastating. A 30 minute drive will take hours to travel because of heavy traffic. And it is not just caused by infrastructures. Most of the time, the traffic is caused by undisciplined drivers and commuters.



Esports is a thing now. Game casting, live streaming, pro esports players have large income. You cannot just simply categorize them as jobless if they can hone their skills and earn from it.

Since we all know that corruption is a phenomenon for all countries (we can't deny it), I think providing transparancy for the government's expenses to the people would be useful (all organization & agencie must be included). This is not impossible with the use of our technology.

Also, the last thing I'm thinking of is making all government transactions available online. This will help to lessen the traffic in city thus it will lessen the demand in fuel and electricity.

Six Factors That Affect Economic Growth
1. Natural Resources. The discovery of more natural resources like oil, or mineral deposits may boost economic growth as this shifts or increases the country's Production Possibility Curve.
2. Physical Capital or Infrastructure.
3. Population or Labor.
4. Human Capital.
5. Technology.
6. Law.


To the best of my knowledge, these six issues are all important!
However, the deepest is still the issue of technological innovation. Slow technology development will stagnate for the economy!

For me if you dont want worsen the economy and even want to improve your country's economy. stop applying for a job,
make a business and hire workers, it will directly benefit to the economy and the people you around you