A Right to a Low-Interest Loan and Quasi-Loan Forgiveness

So… now states have a “right to wealth.” First, there were “universal human rights” and now there is a “universal right to national wealth.” What does the word right imply? In short, it essentially insinuates an entitlement – that by mere existence an entity is entitled to whatever rights human society deems necessary (i.e. assuming, of course, that a common collective called “society” actually exists). According to those who promote this right to national wealth, if a nation is protected by the safety net of guaranteed liquid worth, it will be more prepared for independent sovereign statehood. But, at whose expense is this safety net capital going to be acquired? It will come directly out of the pockets of those established nations who have built themselves up on their own. Basically, what this right to national wealth is doing is establishing the framework for global theft: coercing established, post-industrial powers into spending more money that that they do not have. Now, does that sound just? Of course, it does not. Yes, it probably would marginalize and help bridge the massive gap in wealth distribution between the First World and the Developing World, but at the expense of further indebtedness, decreased national industrial outputs, and increased global tension. The negative externalities of this national entitlement initiative would drastically outweigh the positive objective goals. What idealism forgets is the value of a Dollar. Capital does not grow on trees, and it never will. Nor, will the importance or need for currency ever go away. It is a problem that we must accept and deal with, just like social marginalization and disenfranchisement. We can decrease the amount to which people suffer and are oppressed, but never will hardship disappear.

The only rational means toward a better world where everyone is free, fed, clothed, housed, and educated is through global liberal market principles: deregulation, free trade, and diversified, low-risk investment strategies. If we want to assist developing countries then allow them to borrow and lend responsibly. Do not allow Third World nations to be conned into risky, high interest loans, corrupt monetary and fiscal practices, and crack-pot investment strategies. Balancing a federal deficit should be treated like balancing a household budget. Be smart, be safe, and be diversified. If we want to help nations in need, then provide them with the means to be ambitious and profitable. Simply giving them a gift of billions from “Your friends in the West” is not going to cut it. We need to ensure that proper lending infrastructure is present, as well as a quasi-loan forgiveness safety net is upheld. They will make their payments if we push them and guide them through the process of developing their home territory.