The power of Economic freedom in wealth creation and prosperity

George j Kanyihamba
Posted August 23, 2020 from Uganda

Freedom creates space for knowledge acquisition and innovation, Knowledge paves way for innovation,invention and production. Innovation champions human potential and  productivity,this spearheads automatic economic transformation, wealth creation and prosperity of individuals and a nation at large. it is through this that wealth creation becomes a must for economically free nations and for their citizens. standards of livings increase due to productivity,entrepreneurship and the influence of free markets trade,cooperation,voluntary exchange and free trade since as many individuals pursue to achieve their own interests they end up producing and making what others need hence improves their lives unknowingly.

Governments do not create wealth because its not their cardinal role ,the essential role of government should be  to protect its people their property, their rights and freedoms in order for them to create wealth and prosperity without interruption from any one.

Government only gets money through taking away from some one else and giving it to a certain group which in most cases the group it gives(rich through subsidies and tax holidays) is far better off than the one it takes away from.(the poor who pay mandatory and coerced taxes).

Government only acquires income through 1.)printing money, 2.)borrowing it or 3.) raising taxes of which all of them have effects on the economy. Printing more and more money can actually cause inflation devaluation as money looses its value therefore the currency becomes too useless. and,borrowing money makes the loan to accrue more interests and becomes hard for government to pay back therefore this hikes the Debt burden and government responds by creating other new taxes in a bid to either convince the borrowers or borrow again which again fuels economic oppression of the majority citizens and in most cases economic stagnation.

This well explains why the most developed world economies are investing in borrowing these poor countries yet their trick is that they want governments to fail to pay back and then take over their resources and also control their economies and that is their future plan, if at All these countries don't rise up Especially in Africa ,they will be colonised and controlled again in the new forms of colonialism "Neo colonialism" and econ-Controlism and imperialism.

Real economic inequality is due to lack of naturality,lack of  economic freedom and the central planning that involves commands,Coercion and force that is caused by governments in their Bid to create economic equality yet they instead create the opposite.

The only way is to let people enjoy freedom,economic freedom,equal opportunities and let hard work and individual potential reward everyone accordingly.

This will create economic differences that most government and socialists often term as economic inequality in their perspectives but they are wrong Because those are just differences created normally,morally and naturally by the powers and forces of the market ,the natural principles of demand and supply. These are economic differences created due to the levels of how individuals work.

     

    "Economic freedom creates economic equality and prosperity".

          -George J Kanyihamba.

    SFL Uganda.

 

Comments 5

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Hello, George,

Welcome to World Pulse, and congratulations on writing your first post!

Thank you for sharing your input on world systems through the economics lens. Developing countries will forever be in debt when we keep borrowing for foreign countries. My uncle and his global colleagues are creating a movement promoting a "solidarity economy", it's an economy that is socially responsible, and more altruistic than the economic systems we know of today.

Please continue writing. We love to know more about you. Welcome again to our growing community!

George j Kanyihamba
Aug 31
Aug 31

Ooh yes thankyou Karen at first I thought the platform was only for ladies but wooh it accepted me to write whatever itches my mind.
I always write on my Facebook but I discovered that my posts are not taken so important .but iam glad for having joined this family.
I passed through your Bio and yes I loved it...about Community development iam also an undergraduate finalist of community development social justice and special needs student ..I find it connecting with you in the same field.
I have several articles saved in my draft though I haven't finalised with editing them.
I thank you for the warm welcome.
Thanks to world pulse for the platform.
I found a family and a writing family...I love this.
Though still learning several features here.

You're welcome, George. Men are welcome here, too. There are some men who are involved in advocacy work that post here. I hope you meet them.

Yes, posts like yours are not appreciated on Facebook. Nothing is wrong with it; you just need to be on the right platform.

Oh, wow. That's good to know. Looking forward to reading your articles then.
You can connect with the community here by commenting on their posts, too. From experience, that's how I grew followers.

Keep exploring and learning. Keep your eye on the Resources Page for opportunities that would suit your interest. It could be funding, training, fellowships, and more.

Andrace
Aug 30
Aug 30

Nice photograph. Rich culture. Thank you for taking me to Uganda right from my seat, George. Great insights from this piece. Please, keep writing. Nice reading from you.

Welcome to World Pulse and congratulations on your first post.

Best wishes always,
E. J.

George j Kanyihamba
Aug 31
Aug 31

Thank you Andrace. That is a market were I work currently as i wait for school to open and I finalise my degree. but I took my time to learn and discover how the market works and how people can get rich in a free market economy .
If it is driven on choices and if the government can leave the market to be driven on the natural forces of demand and supply without frequent regulations and taxes people can create wealth like nothing and which in terms helps everyone including the state.
Thank you for welcoming me.
Iam passionate about writing.
Thinking about writing all my ideas in a book but they are divergent....