Anatomy of the EU Economic Crisis - The Need for Big Changes in the Global Economic Policy

The inequitable distribution of world economic wealth became very obvious when the error of one exceptionally rich beneficiary (read: hedge funds) can have catastrophic effects on everyone else


The long-term solution is not policing the international economy to the point of dictating to each player what they would to the letter. Instead, it is a more equitable distribution of economic wealth. This leads the average human being to be more responsible and less selfish when it comes to his or her economic decisions.


The world economy has ceased to be a simple mosaic of individual national markets. When the EU economic crisis struck, it was not only Europe that was affected. Instead, almost every country in every corner of the planet suffered its effects. Thus, everyone has a stake in this matter, regardless of whether he is black, white, yellow, or green.


More than half of the world's population lives below the poverty line, with less than a euro to spend each day. Ironically, the world economy has gotten so big that exotic financial instruments are proliferating. This just goes to show that the world's economic wealth is very concentrated on a select few.


If the West can just let the rest of the world participate on equal footing with them, the EU economic crisis could have been easily avoided. When Greece recently declared near-bankruptcy, the rest of the EU took too long to respond because of limited disposable resources that can be used to help Greece. However, if the rest of the world economy prospered in the years past, just like Europe did, there would have been so many who could help Greece to get out of it.


Europe and the rest of the western hemisphere houses less than a fourth of the world population, but it has more than half of the world's wealth. This fact has disturbed many economic geniuses for a very long time while they find ways to fix it. However, these efforts were all in vain.


The solution to unequal wealth distribution is not through just giving away free foreign aid. It is not even about teaching poorer nations how to get rich. Instead, it is by breaking western economic controls that make it harder for poorer nations to catch up.


In other words, stop protectionism.


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