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Preface
Introduction
The sovereign economic model
What is the Sovereign Economic Model?
Problems and Solutions for Liberal Economics
Short-Term vs. Long-Term Financial Allocation
Wealth Distribution Is Profit Sharing
Politics of the sovereign economic model
Politics and the Sovereign Economic Model
What Is Economic Sovereignty?
Socioeconomic Implications and Influences
Hidden Power Struggles
The Competitive Advantages of Nations
Regional Raison d’être of the Sovereign Economic Model
Economics of the sovereign economic model
Wealth Creation as the Economic Ideal of the Sovereign Economic Model
Sovereign Economic Margins
Wealth Creation Instead of GDP as a KPI for Economic Policies
Business Environment in a Sovereign Economic Model
How to Apply the Sovereign Economic Model by Level of Development
Clarity of Vision and Policies Is the Key
State capitalism
State Capitalism as Guided Capitalism
Capital, the Real Economy, and Wealth Creation in State Capitalism
State-Owned Enterprises as Representatives of State Capitalism
State Capitalism Investment Models
Control of Assets: State vs. Private Property
Planned Economy Perception
The Putin Doctrine: 51 Percent State Ownership, 49 Percent to Investors
Economic infrastructure
Sovereign Strategic Business Infrastructure
Finance
De-financialization
Financing Growth
Payment Systems and Cards
Banks
Debt
Restricting the Stock Market by Excluding Non-resident Investorsza
Capital Control and Currency Devaluation
Finance Allocation of a Sovereign Economy
Running an Efficient Economy
Prioritizing Wealth Creation as Investment Activity
Taxation on Investments
Industrialization and policy
Industrialization Policies
Growth via Diversification Strategies for a Country
Clusters, Cooperatives, and Trade Associations
Import substitution
Import Substitution Is an Economic Policy
Best Practices for Import Substitution
Import Substitution at a Local Level
Growth Paradox of Import Substitution
State Development Corporations and Development Banks
Scale of Production and Demand
Cost as an Essential Factor in Import Substitution
Protectionism
Caveats before Starting Import Substitution
Caveats of Import Substitution Manufacturing
Import Substitution at Different Economic Development Levels
Localization or On-Shoring as a Better Form of Foreign Direct Investment
Government Procurement
Service Imports and Exports
Economic Policies of Import Substitution
Strategies for Import Substitution by Category of Goods
Controlled Competition in Import Substitution
Strategies for Import Substitution by Level of Technology
Wealth Creation in Import Substitution
Industrialization: Supply Chains
Industry 4.0
Intellectual Property Rights
Agriculture
Agriculture as the Starting Step of an Economy
The Super-Cooperative
Cooperatives beyond Farming
Diversification in Agriculture
Technology Drivers in Agriculture
Wealth Creation in Agriculture
Import Substitution in Agriculture
Natural resources
Ownership of Natural Resources
Types of Natural Resources
Main Drawbacks of Natural Mineral Resources
Wealth Creation with Natural Resources
Import Substitution in Natural Resources
Infrastructure – secondary sector
Infrastructure as a Catalyst of Industrial Activity
Types of Infrastructure
From Infrastructure to Smart Infrastructure
Wealth Creation with Infrastructure
Import Substitution of Infrastructure
Action Plan for Governments
Light industry
The Importance of Intermediate Goods
Wealth Creation in Light Industry
Import Substitution in Light Industry
Action Plan for Governments
Heavy industry
Evolution of Industrial Production to Technology
Wealth Creation with Heavy Industry
Import Substitution in Heavy Industry
Service sector – tertiary
Importance of the Service Sector to the Sovereign Economic Model
Quaternary sector – knowledge economy
Intellectual Production of the Knowledge Economy
Advantages of IT and Technologies in Other Sectors
Economic Development Catapults
Wealth Creation in the Knowledge Economy
Import Substitution in the Knowledge Economy
Adaptation of the Education System
Action Plan for Governments
Trade
Strategic Reasons for Sovereign Economies to Export
Service Imports and Exports
Export Credits (Tax Deductions) as Export Tools
Good vs. Bad Exports
Export Support Organizations
Export Strategies
Offshoring as an Enemy of Value and Wealth Creation
Export Restrictions on Raw Resources
Barter
Mittelstand
Mittelstand as a Model of Perfect Business
Advantages of Mittelstand SMEs
Action Plan to Support Mittelstand SMEs
Market regulations
Markets Need Better Regulation
Market Share Scattering
De-monopolization and De-cartelization
De-aggregation of Aggregators and Middlemenw
Removal of Unproductive Operators
Taxation
Taxation as an Economic Development Tool for the Real Economy
A Taxation Regime for the Sovereign Economic Model
Taxes for Start-Ups, Small Businesses, and Infant Industries
Export Tax Credit Reduction: De-taxation on Finished Goods and Services
Effects of De-taxation on the Economy
Taxation as a Tool to Weed Out Unproductive or Undesirable Economic Operators
Sovereign technology
Sovereign Technology
Sovereign Internet
Sovereign and Universal Internet Commerce with Logistics Delivery System
Sovereign or Federated Cloud Infrastructure
Aviation and Space
Sovereign Pharma for Economic and Political Security
Education & research
Sovereign Education
Education and Workforce Training
Research
A Potential Solution for Research Management
Other Options for Knowledge Acquisition
Knowledge Generates Wealth
Conclusion
This book was born as a manifesto for changes to the liberal capitalist economic model.
I have tried to write this book in the simplest way conceivable to describe as many concepts as possible in the simplest viable form. The aim is to achieve the largest attainable reach among economics professionals and, more so, among less-well-versed decision-makers in economic matters. Another portion of the intended audience is people who do not speak English as their mother tongue. This book should be more dogmatic, philosophical, and, I hope, disruptive than plain economic numbers. To some it might sound revolutionary, to others evolutionary, and to still others plain wrong or crazy. I will try to back up my theories with real-world examples of countries’ economic policies and market mechanisms. These theories have proven themselves in the field, both in different geographies and in different political and social contexts.
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• For developed nations, it is needed to reassess and adjust failing economic development methods and refocus on the core KPI of economics.
The Sovereign Economic Model will benefit both the people and the government of a country, whatever its current development level. The model should provide economic security with stability and predictability for the government, people, and economic operators. It should avoid disrupting systemic events that create chaos and negative effects. In that, only sovereignty can lead to stable functioning of the economic system and reduce negative external factors. Sovereignty, without external conditioning, enables governments and economic leaders to make the best decisions for the economy, country, and people. The Sovereign Economic Model prioritizes market sectors that yield the highest return of wealth (ROW). Wealth creation is the most important economic KPI.
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