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Is the VI economy soft & will the upcoming Tourist Season bring relief?
ROAD TOWN, Tortola, VI - Many residents of the Virgin Islands along with businesses have complained for the last five months, that the economy is soft and no money is flowing in the country.
Debt is a transfer of wealth
Dickson C. Igwe
Debt is like oxygen. It is everywhere in the world of economics. Debt is currency used to pay for what we want and need. It pays for products that are essential to existence such as hospital care, a roof over the head, or a vehicle in a land with no adequate public transportation. Debt can follow us to the grave if we do not pay off debt at a certain age, leaving our survivors to pay the debt.
Debt generates wealth
Dickson C. Igwe
Capital ownership has driven increasing social and wealth inequality practically everywhere. Social inequality is a global phenomenon driven by the power of capital, and the owners of capital. Capital- human and physical assets that generate wealth- tends to increase the wealth and power of those who control capital. Today, wealthy capitalists own the most powerful corporations and practically run the world.
How capital drives social inequality
Dickson C. Igwe
The idea that education and hard work are the great equalizers is wonderfully aspirational. It is however woefully inadequate as a theory.
The rule of capital
Dickson C. Igwe
Capital is resources that drive social and economic growth: finance, machinery, land, technology, labor, skills, and management.
A generous community learns a hard lesson
Dickson C. Igwe
A community coming together to aid one stricken by personal financial crisis is admirable. However, that assistance must come with safeguards for those who contribute their cash. There are caveats when assisting persons in need.
Politics is science, even in the Virgin Islands
Dickson C. Igwe
The Virgin Islands possesses its own unique political ecosystem. These paradise islands are a difficult place to predict political outcomes successfully.
Food security in the Virgin Islands
Dickson C. Igwe
All nations depend on outside countries to fill in crucial links in their supply chains. The preceding is at the core of modern-day globalization. However, when crises such as war and natural disaster strike, there is a sober realization that a level of national self-sufficiency is wise. Food especially is a key driver of national security.
Countries that meet the highest benchmarks
Dickson C. Igwe
The road to El Dorado passes through honest governance and high standards of social behavior by every resident of a society
That the quality of a society is in the behaviors of its people is a valid assertion.
Impunity in Governance
Dickson C. Igwe
The well-worn cliché, that power corrupts and absolute power corrupts absolutely, is an assertion that should guide Julius Caesar, if he or she wants a wholesome, happy, and lengthy tenure in office. Sadly it never really does. When he possesses power, Caesar is unrestrained in his appetites.
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