Financing the Future
This chapter is strictly an afterthought which, however, must be considered to be extremely critical. As we discussed first, modernizing capitalism and using it as a major tool to carry both top-down and bottom-up globalization to rescue the lower layers of the global economic pyramid profitably, we must consider a financial system that, certainly, works better than the current systems that are being employed. As already articulated, without a meaningful approach to the development of the poorer parts of the world, free flow of capital combined with the greed factor have been and are likely to continue making many reckless investments that have done more harm than good. Such activities are marginalizing localities, regions, or countries (Samli 2002).
One may say that it is admirable that two major international financial organizations – International Monetary Fund (IMF) and The World Bank (The Bank) – are seriously concerned about poverty reduction throughout the world. So much so that...
KeywordsSocial Capitalism Money Supply Budget Deficit State Enterprise International Entrepreneurship
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