Publication in Russian on the Zen blog
https://dzen.ru/a/ZtHjKDWMGw161pgM
The ultimate goal of Ukraine and all civilized countries is to make the world a better place, and this must begin with faith in individuals, not monolithic structures.
This publication will consider a strategic vision for Ukraine's economic development in the post-conflict period, based on the timeless principles of Adam Smith, the father of modern economics, and complemented by E.F. Schumacher's philosophy "Small is beautiful", according to which human-centered policies are the driving force of economic growth.
I advocate for full transparency of economic processes and emphasize that Ukrainian citizens should retain ownership of their land. Instead of channeling funds through state bureaucracy, resources should be channeled to people through a conditional tax credit on earned income, promoting the development of micro-entrepreneurship, green energy initiatives, sustainable agriculture, green housing and other local enterprises.
This approach is far from a nostalgic return to the counterculture economics of the 1960s. Instead, it draws on the classic ideas of Adam Smith, Ludwig von Mises of the Austrian School, and F.A. Hayek.
The method combines lessons from the Scandinavian economic model, successes in post-communist development, the experience of joining the EU, and ideas from the "leprechaun economics" of Poland and Ireland. There are many innovative ideas for rebuilding the Ukrainian economy, with a focus on people, sustainability, and long-term growth.
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Let's talk about how Ukraine can develop, rebuild and transform itself after the current geopolitical event. Let's start with some ideas that may be interesting, innovative and relevant for economic growth and development, in particular, how Ukraine can recover from the effects of what is happening now, how long it will take and how long it will take to fully recover. Theoretically, Ukraine can recover in a year, but obviously this is ultra-optimistic. You can build a house in two weeks or in 10 years, time is fluid in a way, it expands like gas in a balloon, time can fly, that two weeks can seem like 10 years, time is not a factor, time is a method by which you approach the assessment and implementation of economic growth and development of a particular country. Key points that are vital to understanding how a country should develop correctly should be based on decentralization in the economy. The main ideas of decentralization are contained in the ideas of Adam Smith, Mises, Hayek, as well as in the philosophical work "Small is Beautiful" by Schumacher, although located in a different spectrum, but carries the same ideas as those of the listed economists.
Let's start with some points, one of them is Transparency. In 1766, the Swedish government firmly established in their constitution public access to everything, they developed this culture of awareness, and as a result, Sweden and other Scandinavian countries like Denmark, Norway, Iceland, Finland have tremendous transparency, except obviously in the area of defense. These conditions have created an environment that is conducive to economic growth. Ukraine has such laws, they have transparency laws, and they should continue to develop this tradition. Anyone should be able to go to Ukraine and look at the salary of every civil servant in Ukraine. You should be able to see what the officials are like, their rank, how much they earn, money transfers should be tracked, be able to see everything. And Ukraine needs to promote this awareness and this culture where people check each other in government to create transparency, which will reduce corruption and increase economic activity, trust and respect around the world. Number two is Land Ownership. Some countries have laws that say foreigners can't own land. Ukraine should have nothing against foreign direct investment to help drive economic growth, but the idea is that during the transition period, the land will be cheaper in purchasing power parity. Ukraine doesn't want the Russians, the Germans, the Chinese, any foreigners to buy up this land at a discount, like a fire sale. So during the transition period, there needs to be a law that prohibits buying land without Ukrainian citizenship. You can buy a building, but not land. If Ukraine doesn't want to sell the country, then there needs to be laws on transparency and land ownership, at least until the transition period is over. Number three is Education. Adam Smith said that education is a big exclamation point. And he used to say that in London there were rich people and poor people, the rich people got a good education, they achieved everything in life, and the poor people did not. And it was the same rich people and the same poor people, with the same last names, with the same family heritage. As if there was no genetic variation to unlock potential. It was just education. So we talk about access to education for everyone without exception. We talk about the structure of education. And how do you feel about the education that you aspire to? We are talking about the approach to education. Because no child gets up early in the morning and says that he wants to open a math textbook. Often children do what they want, so we need a different approach to education, with some guidance and encouragement for those things that the child aspires to, a learning process that shows that they can achieve what they want. When everyone does what they want to do, it is most effective for the world. Speaking of effectiveness, let's move on to the next point - Decentralization of money and funds. Don't let corporations build monolithic industries. Many people talk about creating tech hubs and defense industries. No, we need to leave that behind and turn defense into something else, like space exploration, new technologies, all the bright ideas, green technologies, agriculture, sustainable farming, anything that can free up technologies and ideas in people's minds. Tech hubs were originally created in someone's garage, corporations were born thanks to something like crowdsourcing, and open source brought people's minds together. A decentralized economy is when the heads of corporations, who smoke cigars and congratulate themselves with port and brandy on being the masters of the universe, give their taxes, which are distributed to the restoration of buildings and agriculture and so on, thereby creating economic dispersion and diffusion, diversity of GDP, because this makes the economy healthy. Look at the EU and the US, where they are not focused on the guiding principle, as opposed to Russia. Russia focuses on monolithic large corporations with centralization and distribution of funds where some elite thinks it is appropriate. Ukraine should focus on all people, because each person has unlimited potential, each of us is 100% genius. I know it sounds like "yay, this is what peace and love are". But in fact, the next innovation follows from this. A person who, for example, has difficulty reading, this is the person who can invent something really great and out of the box. Divergent thinking is how the economy should be run. Any cash flow should be justified. And if funds are allocated, they can be invested in meaningful things, like green building, sustainable agriculture, and not have to worry about the buildings, about the rubble and the destruction, yes, which hurts any human heart, but it's a great opportunity to start from scratch, maybe build green houses, use new materials instead of asbestos and lead, just be responsible about all this and replace the past with something really cool. You know, in Europe there are modular houses, these are amazing houses in the countryside and around the city that look brand new and much better than the crumbling houses of the Soviet era. It's often cheaper to just tear down the house, wipe it off the face of the earth and start from scratch. Only the land is what matters, that's why I say that Ukrainians should own the land. So, we have transparency, we have education, we have land ownership, we have "small is beautiful". The number one priority, the fairy dust, is trade. Trade with the EU, open to the free movement of labor and capital with the European Union. Those countries that were the poorest in Europe, they became rich countries because of the comparative advantage of trade, Specialization. You want to learn about specialization, read Adam Smith, when in a pin factory, one person makes that pin, but if all the people cooperate within the factory, then you can make another 10,000 pins, which is much more efficient - specialization and division of labor. In this regard, Ukraine should promote handicraft industry. Ukraine should also develop cultural tourism. You don’t have to have a beach to be a tourist who doesn’t want to fry on the beach and get all these UV photos anymore. There are a million beaches where you can just lie and fry, just lie around, but a lot of people want cultural tourism, for example, to explore ancient untouched forests, which Ukraine has a lot of, to see unique ecosystems, and Ukraine has a lot of culture, and this will be for the economy by dispersing GDP all over the land, and not concentrating it, like in Russia, focusing on one asset, which is not the model that Ukraine needs. It will be difficult for a lot of people in government to change, but Ukraine has a chance to increase GDP by diversifying, not giving money to the government, not giving it to corporations, not creating tech hubs. Wouldn’t it be bad to provide tax breaks on income so that people can go to the shops, start renovating their houses? That will develop the trade infrastructure and will look like a public good. Maybe it will be infrastructure based on partnerships and collaboration between private and public companies, infrastructure that facilitates logistics. And you know, there are things that really look like a public good. It's when a plastics factory that spits out all sorts of crap is not next to a school. Because on this small planet, we have to understand that it's important to be able to work together, to work together as one infrastructure, to solve problems with air pollution, because when I look at the pollution index in one area and then I look at the same index in another area where there are electric mobility devices, from scooters to trams, sustainable agriculture, green technologies, whatever you want to call it, it looks pretty cool. Oh, and the bonus to all of this is crowdsourcing, digital technologies, microfinance, home loans. All of this is covered by fiat money that goes to the people. And it will work. Because if you're a stockbroker, you know that micro and small caps always outperform large stocks. If you're an investor, you know that microcaps and small caps always win because they're more efficient. If you ever want to relax in life, just work for a government agency or a large corporation, it's like an office that you know, and for like 4 hours of actual work, you just go there, relax, check your email, catch up on correspondence, have a coffee break, oh my god, it's a large monolithic corporation. Cottage industries are like microcaps that you're in, you can work from home, you can run a company from home or run two businesses at once, and you can be pretty efficient. So there should be a huge focus on the small cap industries, giving them microfinance loans, supporting them. You know what I would spend my cash on? Before I answer that, I should say that Ukraine is probably the largest country in Europe and it has the most wealth, probably 13 trillion in oil and gas, so it is the largest and richest country, the potential of which should be unlocked, but the real potential is the people and the human mind, Ukrainians are quite hard-working, intelligent, educated people, especially their kindness. What I would do if I just wanted to throw money around is spend it on entertainment and libraries. Parks where you spend your time with your children, playgrounds, isn't that great? The best form of communication is when you get together, enjoy walking and talking together, exchange ideas, pass on knowledge. How about spending some money on promoting chess? There are some statistical studies that say it can increase IQ, it's debatable, but you know, at any age it at least increases cognitive skills and discipline. And then if a country wants to rise to the top of cultural tourism, you can create something really cool. A park like Paulton Park in England, or Legoland in Florida, or like Disney, why not have a theme park like that, where people from all over the world come. A lot of people would come there who are bored or who don't know what to do with themselves anymore, because they've been lying on the beach in Greece many times. In any case, it would be something unusual, it's an example of decentralized thinking, it's just like the ideas of Adam Smith, Hayek, Mises, the names that have gone down in the history of the free market, thanks to which America prospers, the free market of Europe prospers, this is exactly the type of culture that Ukraine needs to promote. Not the tech hubs, not the huge monolithic defense factories, leave that in the past, heal from that, we need to move forward with the power of the people, and I hope that Ukraine will develop and grow its economy, because I am 110% for Ukraine. I want to see this country prosper.
Адам Смит - шотландский экономист и философ-этик, один из основоположников экономической теории как науки. Считается основателем классической политэкономии.
Людвиг фон Мизес - философ и преподаватель, актуальный австрийский экономист, труды которого востребованы сегодня как никогда.
Фридрих фон Хайек - величайший социальный мыслитель 20 века, блестящий австрийский экономист, лауреат нобелевской премии по экономике
Шумахер Эрнст Фридрих - выдающийся экономист и философ. Шумахер утверждает, что стремление человека к прибыли и прогрессу, которое ведет к образованию гигантских организаций и к все большей специализации, на самом деле оборачивается экономической неэффективностью, загрязнением окружающей среды и бесчеловечными условиями труда. Он бросает вызов доктрине экономической, технологической и научной специализации и предлагает систему "промежуточных техник", основанную на небольших рабочих единицах, новых отношениях собственности и использовании местного труда и ресурсов.
I am sure many people around the world are eager to visit Ukraine and spend money there as tourists. People from all over Europe will definitely go to Ukraine when it is safe and they win the war.
There are many fabulous places to visit in Ukraine that represent a variety of cultural influences and natural attractions. What you can read in books about Ukraine or watch on videos is only a small part. Positive tourism can be a great way to learn more about the country and also bring economic benefits.
Ukraine is still the largest black soil belt on earth. The country will be the largest legitimate developing economy despite poor demographics.
Ukraine has a lot of choices to make in the future. Ukrainians have a great base for further development. Agriculture, military equipment, as well as software and systems for their efficient use, can become the driving force of economic growth. Green energy sources and energy distribution systems are very important in the renewed economy of Ukraine. Ukraine will need to have regulations on pollution from mining and drilling to prevent the country from facing large environmental and monetary costs from these potential sources of pollution. Forests and farmland are more valuable than most people realize.
Ukraine deserves a chance to become a strong Western exonomics. Ukraine has the drive and ingenuity to emerge from the war as a major power. Post-war Ukraine has enormous potential.
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Publication in Russian on the Zen blog
https://dzen.ru/a/ZtHjKDWMGw161pgM
