Public Revenue

The Public must never be allowed to take #EconomicDrivers for granted. Highly Trained and experienced professionals employed, in the public interest, at an Independent Office Of Budgets (OOB) must guide and measure, via Standard Industrial Classification (SIC) and National Gross Domestic Product (GDP), Global sectors and industries profitability. Incentivize and develop Business Models which can Constantly Transformed public policies to drive dependable Economic Growth. Such Business Models must be continuously measured to judge viability, Preservation and Growth. Hence, a nation depends on its Mature Economic Drivers to provide Security, Healthcare, Education and Infrastructure, able to contribute to bettering GDP, Taxes, Jobs and Lifestyles.

Services ‘An Economic Driver’

Legally Protecting an idea. The service sector or industry is borne out of a consensus of laws, rules and regulations, giving rights to ownership of skills and talents. The right to oversee professions, to practice law, license as a medical practitioner, operate specified facilities, certify accounts and other professional documents, are established in law. Further executing works or inspections, which requires advance training or higher education, to develop and for the monitoring of talents will also need the protection of laws. But one only has rights they can defend. Proving in a jurisdictional court that this idea is yours, can be a daunting task. Hence the need to patent it.

The Me, Me, Me Economy

Selfishness has no place in Success. The Success of any Economic Driver is based upon demand and supply. Demand created by people; consumers, users, customers, retailers and resellers. Supply is also generated by people; extractors of raw materials, transporters, manufacturers and processors of inputs. This supply and demand rules across all basic living components. Infrastructure demands architectural, engineering, designs, building materials and construction skills to Supply housing, roads, vehicles, industrial, commercial and entertainment spaces. Similarly, Security, Health and Education all need people, groups and teams, horizontally and vertically integrated, to provide and produce any measure of success. The selfish actor can only cause breakdowns.

Agriculture ‘An Economic Driver’

Water preservation is the key to the agriculture industry success. Put simply, without sufficient or with too much, no growth is inevitable. Water quality also plays a big role. Stored water, over time, deposits chemicals at the container bottom, resulting in over treated water. Flood waters moves chemicals from the surface into the sea, leaving mal-nourish soil. Climate change brings long hot days of scorching temperatures and days of heavy rainfall and floods, both to destroy animals and crops; the food supply. The science calls for treated, constantly circulating water, reaching plants’ roots and in reach of animal bodies.

Trade ‘An Economic Driver’

Trade is a very big word. Commonly used to refer to (Import and Export) Trade of basic items between nations’ producers and consumers. Within a single country, Trade also refers to the movement of Goods along a Distribution Channel at wholesale and retail prices. Comprising, in most cases, a Transportation (Freight over sea, land or by air) cost, which may also attract custom duties and other taxes into the tradeable price. Protecting the Goods, via handling cost, and its assigned value via insurance policies along its journey from producer to consumer. The word ‘TRADE’ hardly enters the conversation when speaking about the extractive (Drilling and Mining) industry but in much the same way, the legal rights to operate within a geographic zone is trade-able.

Imports, consisting of Raw Materials, Machinery, Parts and Other Inputs, and Finished Products, further categorized as non-consumables and consumables are granted entry by local legal regulations. Such Goods are publicly listed by customs, described and constantly updated, for the purpose of import tariffs (Taxes) to protect local jobs for a short period, while the local industry develops. Noting, the larger the tariff, the more disincentive is placed on these imported Goods to compete with the local price. Hence, the local industry is called to quickly ramp up production and lower its unit price. The immediate response, from the Country of Origin, is most likely to protect their owe economy from exports, from this protectionist country, measured by ‘Balance of TRADE’.

SIC

What does Standard Industrial Classification (SIC) mean to you? This Code list and describe Economic Categories https://classcodes.com/sic-code-list/ for Measurements and Comparisons of Taxation Revenue, Job creation and formation of Education Policy. This or similar codes are used by Statistical Agencies to calculate Sector or Industry Outputs and the national, regional Gross Domestic Product (GDP) reporting and forecasting of global trends by the World Bank and the International Monetary Fund (IMF). Monitoring countries economic growth, by expansion or decline, in every sector or industry measured output, as operations in the sector or industry increases or decreases. Noting, it is the implementation of Entrepreneurial ideas and activities which expands or declines GDP.

Economic Drivers SYNERGIES

Developed Country Status depends mainly on a wide range of Economic Drivers. Sectors and Industries that are mature enough to weather slowdowns and disruptions, while generating operational profits and gross earnings, to contribute hard currency taxes, at the very minimum, toward the nation’s Healthcare, Education and Infrastructure. Underdeveloped nations must exploit #SYNERGIES to meet its highly needed Revenue Earnings projections.

A nation’s Human Resources is its main Revenue Driver, which sends the nation’s highly Skilled and Professional People out to work, to earn local or foreign currencies, after receiving basic healthcare and education, intensive training and with academic and vocational experience. Another Revenue Driver is the Extractive Industry which, locates and test the nation’s deposits of raw materials, to judge its viability to mine or drill, process and sell, and generate income. The nation’s Manufacturing Sector is another example of such a Revenue Driver, which combines many inputs to produce products for local and foreign trade consumption and currency. An another such Revenue Driver is the Tourism Industry which, combines accommodations, trade and transportation involving the nation’s natural and man-made ecology, to earn hard currency revenue.

Tourism Properties

Mature nations should leave Tourism Management to the private sector, while preserving public spaces as tourist attractions. This would under normal conditions require a sound Strategic Plan, a large initial investment in facility design, construction, and contracting a suitable operator, with financial projections incorporating routine maintenance and timely infrastructural upgrades. But it also requires, at the very least, a Government intervention every five years, such as the hosting of a global or regional conference with high profile attendees, international media coverage and catering for guest numbers of twice times the nations room stock. The intention being to positively advertise the location and its facilities cheaply or for free, earn profits to offset past or future construction cost, but mainly to stress capacities over its limits, to measure, gauge and improve supporting services.

Expanding Tourism

Traditional tourism, targeting vacation seekers with sightseeing, sun, sea and sand products along with local foods, is no longer adequate as a national Economic Driver. Event tourism has and must be expanded and incorporated into the national Strategic Plan. Live performances, Sporting tournaments, Outdoor activities, Medical recuperation, Technology studies, are some of the new types of tourism models mixed into the traditional family vacation, to which the world is invited.

Growing Agriculture

Fiscal adjustments require more than expenditure cutting, increasing revenue is also vital. National revenue sources must be diversified into untraditional areas previously under developed in this economy. Generating new revenue sources and in such quantities that can help balance the national budget, reducing both existing borrowings and the need for new deficit financing, at the same time lessening debt servicing payments, and maintaining or adding to the nation's foreign currency reserves levels, are all laudable goals. Hence, the focus must now be squarely placed on and brought to economic areas, sectors and industries, in which there is a national competitive advantage that can meet these said goals.

Diversification fuels Opportunities

The vision is to reduce revenue dependency on any single industry or sector and hence, diversifying an economy is to generate an equivalent amount to balance revenue across numerous sources, as to spread and lessen the risks associated with one set of matrix.

Common mistakes are trying to replace strong currency earnings with income of weaker foreign currencies with less purchasing power. Exchanging one volatile industry for another; abandoning hydrocarbon energy, heavily dependent on international pricing, for a tourism gaming industry, which will only grow to depend on international funding. Moving from extraction into energy processing, transport into vehicle building and repairs, trade to light manufacturing, which have similar input/output factors, the value added offers minimal gains while the risk exposure remains the same.

People ‘An Economic Driver’

The debate has started, with a free top of the line, world class, Human Development system available to all citizens, straight out of the womb, should locally trained but foreign employed persons contribute, voluntarily or by some other enforcement mechanism, back to the Human Development system to maintain standards for future generations. The objective is not to stop the brain drain but to build national pride; it is not to deter immigration but to tangibly show gratitude. The previous generations built this Human Development system that supported the success presently enjoyed and it needs returns on the investment to fund its future successes.

Trade & Investment Wars

The hope is to clarify any misconception that simply accompanying a head of state on foreign visits will lead to the opening of export markets or any other profitable arrangement. An organization, defined herein as a (Country) geographic territory bounded by laws or a (Company) group of individuals operating under bylaws engaged in for-profit or non-profit activities, and its (Goods, Services or Processes) products must have done the preceding and necessary academic and practical work. Identifying opportunities, describing the targeted market using current market data, adjusting the product offerings, employing scientific market testing results, building the organization’s image, competing for customers’ loyalty and guarding against espionage must all be address in the organization’s strategic plan. Respectfully, without these guiding policies and decisions on which actions are implemented, such visits are not only wasteful but are downright damaging.

Failing Banks

The future is not that hard to see when it comes to the international banking sector. Traditional banks have long started to implement a transformation plan, driven by the advancements in information and communication technology, which has been accelerated by the worldwide recession. Now, Governments are pushing for more rigid regulations and prudent examinations to protect their populations.

Kitchen Garden

Once these following issues are not adequately addressed the world will always be in a food crisis: The present rate of global population growth; the present economic systems which benefit a few rather than the many; lifestyles successes driven by infrastructural development. And of course, manage responses to climate change. We obviously need an action plan.

I have long argued that the big issues in every society are Health and Education. In this model, Agriculture falls under Health. Feeding people is the only way to build and sustain a healthy society. This further allows for life-long learning and a productive population. Hence, food raw materials or finish goods trade, production, prices and security is an issue high on every Government’s agenda to avoid social unrest.

Agriculture Issues

Any plan to deal with Agriculture and Food Production has to be discussed in terms of financial feasibility and social responsibility. Agriculture must be seen as both a money making venture and as a health security issue. It is the profit-making aspect of the sector that encourages the risk-takers to invest; the capital component, the skilled personnel, the time and effort. The haunting reality that the human body must have proper forms of nutrients to be healthy and productive must drive Governments’ actions.

Competitive Trade

One sided trade agreements by any name are designed to help developing nations develop by encouraging business to make difficult decisions and become more efficient. Decisions on supply of raw materials, effectiveness of plant and machinery, availability of skills and technical procedures and the type of marketing needed. The only solution is to employ efficient strategies that make the business model competitive in targeted markets, noting that even long-term free trade agreements will not support inefficiencies.


Business associations should be totally honest with their members, even to the point of losing them. Many developing nations have traditionally supported an inefficient “so called” manufacturing sector which could not be sustained while getting full access to foreign markets as this would retard that foreign market’s manufacturing sector. So called because a true manufacturer does not have to import more than 50% of its raw (naturally occurring) materials - manufacturing is the process of combining raw materials (farmed or mined locally) into finished usable products.

Food Availability

While economist have been talking about a USA and global slow down due to losses in the financial sector and the high and increasing prices of crude oil, gasoline and energy, very few had their eyes on the weather and environmental changes and the effect this would have on agricultural yields. Yes Basic Food!

Corn yields have been diverted to produce bio-fuel as a substitute for gasoline, resulting in the further loss of forested areas on this planet and of course, driving up prices of the said corn and other related crops, such as wheat and rice. Who could have seen that coming.