Money for money
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| Archbishop Oscar V. Cruz |
The matter of making money out of money instead of on account of trade and/or industry; the issue of having money as a means of profit to earn more money rather than by reason of honest to goodness investment in business; the question of using money to produce more money merely by speculation in place of sweat and toil — this is the ultimate premise of the debacle of the market as such. And this is what is precisely at the bottom of the so called “economic collapse,” “downgrading” among other bad news the world over.
There are many able economists who certainly see it otherwise. Some say that such an economic disaster is caused by national socio-political instability if not outright regional wars. There are also those who affirm that investments in business especially that of production, have become less and less due to instability, graft and corruption here and there. There are those who even claim that the downfall of the world economy is basically on account of the rising world population. And there are those who cite and proclaim other factors for the deteriorated and still deteriorating global economy. And being experts and professionals, it is highly impossible that which they think and say, are altogether wrong..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110821com7.html
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