Presentation by: Joseph A. Weglarz, Senior Lecturer at UDM
Topic: Some Lessons from Economic History
The decline of most of the world’s major powers can be traced to prioritizing geopolitical interests at the expense of pursuing sound economic policy. Is the United States following that pattern?
According to Professor Weglarz, a nation needs to:
· Encourage healthy self-interest
· Recognize the link between economic growth and prosperity
· Advance economic competition
· Understand the role of risk-taking entrepreneurs, prices, and profits
· Protect private property rights
· Avoid “easy” money policies
· Promote limited and efficient government
