Why Governments Failed to Realize Prosperity And How to Structure a Sound Economic System

Maher Diab Kababji

Abstract


One of the main functions of a government is to sustain all its population at or above the prosperity level which expresses the feasible material standard of living that an economy can provide. Governments failed to realize prosperity. Financial distress is increasing. More than 3 billion people live on less than $2.50 a day. Living standard of middle class declines. Scarcity of resources, lack of funds, growth in public services, and absence of an International monetary system are presented by politicians and economists as the main factors that cause the failure of the present economic systems to realize prosperity. This paper aims to discuss each of these factors, highlight the pitfalls in economic thinking, and look for an alternative economic system that would reflect fair economy and advance the needs of humanity as a whole.


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Copyright (c) 2016 Maher Diab Kababji

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.