The Scandal of Money

…an economic developers thinking about the roscandal-of-moneyle of Money.

Every economic developer is, or should be, concerned about money.       

It’s the measurement tool for which economic development success is based on…increasing household incomes by increasing job counts and wages paid.

The economic development profession does not give much thought to money as a tool of measurement but the reality is money determines value and serves as the central vehicle to judge, compare and communicate about local, national and world-wide economies.

Without money no one could intelligently discuss today’s local or global economic conditions or their historic trends.

For economic developers, money is a needed tool to determine value of their efforts to make local economies better.

Gilder gives an interesting perspective of money in its role of determining value in his book “The Scandal of Money”.

Gilder’s free-market thinking postures that while money serves as a “measurement stick of value” its human creativity…a process of learning, identification of opportunity and entrepreneurial expansion that in effect creates the profits that are measured by money that is important for economic sustainability and economic growth creating community betterment; ultimately measured in higher household incomes.

Gilder’s concern lies in the notion that today, the money measurement tool is manipulated more by government action than entrepreneurial profit realization.

He poffers that more profit diverted to government sponsored programs and incentives robs profits from entrepreneurial expansion that creates knowledge, information which is used to increase technological advancement leading to increased jobs and better wages.

For economic development practitioners Gilders thinking again brings into focus the role of government in manipulating profit in the form of taxes and incentives in an effort to pick job and wage increasing winners.

It’s a cranial intellectual policy read, one recommended for all economic developers and civic planners interested in government economic development policy.

I support the notion of creative destruction with technology replacement, information which is easily communicated and replicated in productive learning that accumulates knowledge which frees entrepreneurial spirits resulting in new profit opportunities for the future.

Gilder’s message is that a non-governmental manipulated money supply that increases in value as entrepreneurial opportunity is fulfilled results in new jobs and higher wages denoting economic success and a better future.scandal-of-money

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