Somalia's economy is fully dollarized. The shilling is no longer really used to buy items that cost anything more than $10.
Two papers helped me better understand what the implications of a fully dollarized economy may be.
This is a general overview:
Full Dollarization The Pros and Cons
The GDP(Gross domestic product) per capita is a rough measure of how wealthy is the general population. Is not that accurate, a super small or large population can skew the results. They do it by taking the GDP which is what the whole country produced for whole year and they divided it by the...
Africa as a whole has a population of 1.3 billion and has a gdp of $2.6 trillion. With unlimited natural resources Oil,Gas,Gold,Diamond,Silver etc.
While a country like Japan with a population of 123 million and has a GDP of $5 trillion. It has no significant natural resources.
Federalism in Somalia has not worked out at all for the greater good of the nation in the way it's been used. Corrupt political figures have hindered the growth of Somalia for too long. Somalia has not profited from the largest coast-line in Africa or 1/3 of the world's uranium supply.
tax the shit out of the poor and destroy any militancy against the government with force
middle class lightly tax (during economic crisis or war raise tax)
rich tax almost non existent (this will encourage capitalism)
raise tarrifs to 30% at highest don't go over because...
Is anyone familiar with MMT?
It's sounds like communism on steroids imo.
A lot of US politicians like AOC and Bernie are pushing for it.
Still don't understand how inflation would be controlled but this seems like a perfect fit for Somalia's situation.
I came across the nice metaphor on this abstract.
"In this chapter the concept of ecosystems as applied to economic geography is reviewed. It is argued that economic systems taking the metaphor of the ecosystem more literally than has been done in the past may advance understanding of economic...
The goal of economics is to replace the particular languages that obstruct the discovery of general laws with the universal language of mathematics. This is the apotheosis of a Western conceit that can no longer be sustained by Western power.
LONDON – The historian Norman Stone, who died in...
Djibouti's president IOG this week cancelled Dp world doraleh port contract illegally because he got afraid of somaliland becoming serious completion and putting a end to djiboutis monolpoly.
The UAE was refused military base in djibouti so it went to somaliland , same region for the fraction...
For anyone interested about the claim I made about Somalia's economy growing at 30% in 1975.
Here is the link data.
With the exception of 1974 due to the drought, Somalia under Said Barre was growing at a record...
This is what it looks like when a major economic partner invests in your port. Not the shitty chump-change thrown our way by dhegcas.
Gwadar bright future for Pakistan and in 2020 will be the developed city
Pakistan is the beginning of a new journey of development. The China Economic...
Greetings Fellow Somali's,
The answer to the question that I've mentioned in the thread-title, has been presented in section 14.0 of my Somali-History video-presentation series.
This is the last section of the whole-series. :whoo:
Please watch the section below, and give me some feed back on...
Every month this professor gives a summary of the important economic events with his opinion on it.
He's surprisingly entertaining and will turn you into a communist / radical leftist if you listen to his arguments. lol