Jordan as a driven economy : vimarsana.com

Jordan as a driven economy


Jordan as a driven economy
Feb 22,2021 - Last updated at Feb 22,2021
The decade-old twin economic policy of borrowing to meet current fiscal obligations, and the sacrifice of capital spending in the process does not work. Why? They do not, have not and will not lead to economic growth. Hence, the future may hold more of the same, literally. Obviously, an economic paradigm shift is needed. The following paradigm provides an alternative modus operandus. The ideas presented herein are gleaned from the writings of many prominent economists, particularly Mariana Mazzucato. 
First and foremost, the overseers of the economy must fully understand and believe that the economy is a complex system whose framework, configuration and direction are driven by constant change, evolvements and dynamical feedbacks. Every small change can lead to many ramifications, reactions and changes that are by their very nature complex and dynamic. Once the idea sets in, economy impacting decisions cannot be simple (unidirectional and fly-by-night types), dichotomous (I mind my shop/ministry and you mind yours), or unstudied (there are many examples of those). Instead, they must drive innovation and growth, and lead to socially advantageous transformations. 

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