Giving human purpose to international economic activity.
It is becoming apparent that the economies of all nations are now affecting the economies of all the other nations of the world. It has probably become appropriate today and now for economist to ask how is humanity to gain from the consequence of this evolving world economy and what should we look toward as the end product.
Of course, just as each nation of Europe is concerned about its own economy, the European Union has now become more involved in the relationships of the economies of Europe. The United Nations has become involved with the peaceful relations among all nations of the world.
Peace and goodwill among nations are becoming the goals being laid out by the peoples of the world. What is required now, is a world economic organization that becomes involved in the prosperity of the peoples of the world.
This organization should have as its goal the improvement of the economic standards of all peoples but also the appropriate uses of the natural resources of the world and the supervision and the managing of those resources in the interest of future humanity.
We cannot continue to use the labor resources of nations with lower standards of living and the lower cost of resources in some nations to support lower priced products and services of countries with higher standards.
Some of the savings or the dividends resulting from these temporarily existing situations must be passed on to these developing countries in order improve and make more permanent these improving economic conditions.
The gains from today’s international economic imbalances cannot as they have always done, go merely to those providing the capital, those providing the resources, the labor and the services need also to share in order bring up their comparative standards of living.
Perhaps more international investments need to be made in those lagging countries than in those moving ahead rather rapidly. Appropriate investment may also serve to bring better social relations within countries presently insufficiently rewarded for their economic efforts or who are prevented from economic participation.
Our improving world economy needs to better benefit all the peoples of the world.
This needs to be our economic world goal.