Sovereign Debt Crisis and Economic Sustainability

The free enterprise market economy is said to have created miracles in raising prosperity and the quality of life of people worldwide, particularly in the West. In an age of globalization, we wonder if we could continue to enjoy what we are endowed with when the debt inflicted nation-states find it difficult to sustain the status quo. The postwar boom and prosperity is said to have been attained with over-consumption of a commodity called credit and the world is facing its dire consequences. Since the financial crisis in the 2007-2008, the free market capitalism is facing the greatest challenge ever. While the traditional economic policy tools fail to respond, our leaders and policy makers have run out of solutions but turned to printing money under the disguised concept of 'quantitative easing'. The author is doubtful whether such measures that were designed to kick start the stumbling economies could work. The author considers an innovative approach to manage the economy and proposes a model to boost the national revenue by commoditizing the economic potential to create sovereign equity. The book is intended for policy makers, political leaders, students and general readers.