Economic Suggestions In A Global Economy (8/28/20)

 Economic Suggestions In A Global Economy

1) The first world nations are built out and cannot absorbadditional economic production or activity. Any future growth will come in the economic maturation of developing nations. We have moved from a growth to a maintenance economy in the first world.  All governmental departments which have the opportunity to do so should be concerned with positioning our nation for a major role in stimulating and participating in the growth of the developing nations.. This cannot be left only to market forces but must become a conscious and planned action of our government not only as a participant but also as an educator and promoter of informed and purposeful economic activity. We must establish a positive global presence as sponsors of measures which will create consumers who favor us. This will include improving living and health conditions, assisting in establishing schools and stimulating economic and business activity at all levels. Using organizations like the Peace Corp and SCORE in some of these efforts might keep them apolitical while clearly branding them as American. This will also offer great opportunities for those who want to volunteer to rebuild our economy.Government and business must work to establish our place in second and third world economies so we can turn them into consumers with a pre-disposition to buy from us. Some would say that this is exploitation; others would say it is common sense and the way of the world. Help the emerging peoples to raise their standard of living; that is intrinsically good. If we reach out to them as friends, they will not forget.American businessmen and governmental planners must look ahead fifty years and begin now to carry the flag into developing second and third world areas so we get our share of these markets as they become purchasers of goods and services. The Department Of Commerce should be leading the way in our recovery, not Commerce. And the State Department should bereaching out to new college graduates who cannot find work and sending them overseas with the Peace Corp to work in second and third world nations, building human ties to future business relationships while helping those nations build their economic and human services infrastructure. Establishing a quality control and good businesses practices performance board would also assure that what we send abroad is of good quality and that we conduct our business professionally. Our current business reputation and performance around the world could be better. I met a foreign businessman who had to stop ordering from the U.S.A. because no orders came in right.Invest in American business and in the economic future of this nation.American businessmen must recognize the patriotism in this. And it must also become patriotic for all managers and workers to perform their jobs to the highest standards of efficiency, courtesy and consideration.

Educate American businessmen so they can participate in the global economy and create a positive reception for them globally.We must teach our entrepreneurs the fundamentals of business management and take aggressive action to position them and our nation to expand our immediate and future share of global markets.We must recognize that the business of this nation is business. Rather thanjust giving handouts we should be investing in business and governmental activity which will pay dividends in jobs, increase our share of global markets and broaden our tax base. We must become America, Inc.(remember Japan Inc.?) Our businesses are not competing with each other but rather with foreign businesses for world markets.

2) The Department Of Commerce must encourage and pay forthe formal study by anyone in business or who is thinking ofbeing in business in the fundamentals of accounting, finance,
marketing, business law, management, and economics.
Just because you come up with an idea or are already in business does notmean that you have the necessary skills and knowledge to effectively and professional manage it. My four years studying Business Management at Washington University in St. Louis prepared was used effectively for thirty years in business. Similarly, a business curriculum should be developed by the government and offered to all high schools, colleges and universities. For those who complete the courses, tax credits could be given for their present or future businesses. Night school, weekend and online classes
could be offered. Advanced curricula for those already in business or
existing courses at colleges and universities should be made available with tuition and fees underwritten by the government. These courses would, for example, teach international finance and marketing or cost accounting, and build on the courses suggested above. The science of business is not intuitive; it must be learned. There is too much at stake to leave the practice of business to chance. We must up our game; others are.