An Economic World Bank Government, Can it Work?

Think for a moment if you could, on the current economic crisis that is affecting most of our societies all across the planet. It just doesn't seem plausible that the once great Euro can even stop the toppling of government economy in various parts of their system. In the united State economy, the only thing that has held them together is well, nothing. Up until now, just like the Great Britain crisis of 1978, the united states have been printing money to make up for their unmeasurable debts, and because of the reserve system in place, it's been ok until now.

At present, most nations are selling the dollar for more stable money such as the Chinese yuan, which is in possible early stages of a joined Russian-Chinese currency, as is the Middle eastern Countries such as Saudi Arabia, Kuwait, Egypt, etc. If the untied states loses reserve status and other currencies take place, a large roll in the financial sectors among the world stock exchange will invariably almost certainly crash. This is a very large problem for the third world countries that are attempting to industrialize, and while the super powers continue to pursue Social-Conflict agendas, there will always be unequal problems and mass poverty in smaller countries.

Now to the greater question at hand, what if there was a world bank that controlled the world as a whole? Now to most, the downsides would be a world order that would cause the collapse and mass control of the world, but let's try to predict positive notions. If perhaps this new system was installed, how would it work and what are the pros and cons of such a large institution. There would no longer be a reserve in a particular country with the ability to print money. Furthermore, if a council was put into order to dictate the loans and debts that were in the best interests of each country, then the world as a whole could benefit, would it not?

Large stockpiles of money that particular countries hold hidden away could be used to create large bio-engineered agriculture that is specifically suited for growth in the deserts of Africa, therefore in a decade or so there would be no more starvation there. The placement of a world bank would also create a hinderance to those nations that strive to police others on a basis of neocolonialism, causing the eventual suppression of political greed that attempts to gain from other countries outputs of basic goods. In effect, this would cause more domestic growth in many countries on the basis that Import VS Export would be more reliable and not as unbalanced on the basic principles of Socialistic values and virtue of the average worker.

So how would the world potentially set up this world bank, and which countries would get more or less loan/debt or Income/Interest growth? In theory, local banks and international banks alike would work under one international source institution that set restrictive guidelines and directed how are where the money would go among the various countries that needed the most help. The restrictive guidelines would include such decisions as to whether local banks could make people pay out open and hidden fees as they do now to keep bank accounts open or to keep debit cards in service.

Regional councils for the world bank

If a world bank was to be created, there must be a check and balance system set up to prevent skyrocketing rates, and corruption within the institution. In order to accomplish this function, the world would have to be split into seven world currencies which would be as follows:

1). North America (Canada to Mexico)

2). South America (Honduras to Argentina)

3). Europe (Greenland to Spain to Turkey)

4). Asia (Russia to Iran to Malaysia)

5). Australia (Borneo to Australia to all eastern pacific islands)

6). North Africa (Morocco to Oman to Central African Republic)

7). South Africa (Angolia to Somalia to South Africa)

With these currencies in place, each region would then create s council consisting of a representative from each country and a representative from every bank in the region as well. After these councils are in place, votes would be made in accordance to various factors such as overall standard of living, economic situations, domestic growth options (roadways, markets, apartment complexes, etc), and many other features of that particular regions concerns. This will go for every regional council, of which every month, there will be a meeting before the global bank summit, where every concern will be voiced.

Based upon a equality based decision, the global bank will make a decision on how the worlds total income will be distributed to countries in need over others that live in excess. If however the local regions or countries disagree with a decision, they can veto and take their appeal to their regions council. Keep in mind that each region will keep 80% of total income, while the global bank will receive the remaining 20% from each, allowing a free market of sorts for the region to do with as they wish without total global bank control.

In theory, this would allow countries within the region to still pursue domestic growth. This allows residents a comfortable competition structure related to capitalism while the 20% tax to the global bank allows for a socialistic handout of money needed to the regions experiencing the greatest gap in poverty like conditions. Countries that haven't entered industrial phases could also begin to restructure themselves without neocolonialism by super powers, allowing for modernization and eventual affluence.

Now the question you might ask is whether this type of economic government would work, and what would it be defined as, a capitalism, or a socialism, or a combination of the two? I can clearly state that it is a combination, and considering the current crisis of today's global societies, from the poverty stricken countries of multiple low-income countries, to the excessive capitalistic high income countries that have pushed their debts to the maximum thresholds, something needs to change. I only present this article for you to have the possibility to examine this notion and concept in it's entirety, and hopefully this outside the box theory could become a reality to help save this world from economic fallout.

Do you feel as though this new form of World Bank Government would help the current problems facing our world?

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Comments 2 comments

Sueswan 5 years ago

"Now the question you might ask is whether this type of economic government would work, and what would it be defined as, a capitalism, or a socialism, or a combination of the two? I can clearly state that it is a combination, and considering the current crisis of today's global societies, from the poverty stricken countries of multiple low-income countries, to the excessive capitalistic high income countries that have pushed their debts to the maximum thresholds, something needs to change"

A thought provoking hub. Something does need to change. I really don't know if this would work. Perhaps, but I don't think the capitalist would let it get off the ground.

Voted up and awesome.


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BakerRambles 5 years ago from Baltimore, MD Author

There's always a chance in the unknown

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