The New Wealth of Nations

Today's nations have a very different outlook than past nations. Ideology, racism, and national dogma are no longer the most important ideas in citizens' lives.  Nations have a bright future because people have a bright future.  But this personal prosperity hinges on a new set of ideals to ensure that a nation thrives instead of existing.

It has been a long time since Adam Smith, and while his ideas from the book The Wealth of Nations still ring true there must be an update to what is important for the future prosperity.

Here are the important factors to consider.  Mankind is 99% equivalent at the DNA level the world over, that means we can expect people from Europe and Asia to be just as fast, just as smart, and just as resourceful as people from North America. We cannot assume that developed nations have the best education, the best systems, and the best trained workers. In fact, developing nations are less expensive and so it is possible to get MORE benefits to productivity for a small portion of the population involved in business than it is in richer developed nations.

The second fact is that technology is growing by leaps and bounds and that allows new and better applications for resources.  We do not have to rely on old ways that force us to use a limited  resource when research and development can find cheaper alternatives. What is needed is the will to fund research and the patience to see that research pay off and benefit the people.



The third fact is that citizens in most of the world have the right and responsibility to manage their government or at least protest the government's actions. Over time, all nations have developed the press and have access to mass media that can spread the message to every distant town and village.  People can mobilize to change the way the government acts.

And lastly, the power of science harnessed in technology is open to the world.  Most universities exchange ideas and professors with other nations, interact at conferences and publish the world's best thoughts in open literature. People are free to learn and this is encouraged in most places.  The seeds of a better tomorrow can grow in any part of the world.

If resources are less of a problem, then finding solutions to technology problems is only a matter of time and research.

If people can change the way governments act, then it is possible for any determined people to change the way things work.

If people have access to all the bright ideas, then the source of future prosperity for any nation does not lie in the ground but in the way the people manage their affairs.  When people choose the better path then the reward will be a more prosperous nation. Here is the new reality for the wealth of nations.   The playing field is fair and the rewards will go to those who embrace the new ways of thinking and working.

When the people allow corruption in politics or in corporate management then they are endangering their own future.  It won't matter if the nation is a super power or not, corrupt practises and incompentence will wreck prosperity faster than any original advantages.

So for anyone who desires a better future it is vital to stamp out corruption and incompetence.  In fact, I would argue that the future wealth of nations will favor nations that make the best decisions rather than nations with the best conditions for success.  Success is not borne out of the past, it is given to those who can see the better future.