By Pepukai Begede | Author of Economic Evolution of Communities.
*The prerequisites of a Developing Country – Financial Intelligence or Basic Economics intelligence.
Intelligence is a necessary ingredient for every Citizen of a given country. It is unfortunate that most people think intelligence is for the elite class who are academically gifted. The difference between seeing things through ignorance and intelligence defines the socio-economic interpretation of activities in a nation.
Mainly because individuals want to be financially stable, life coaches and motivational speakers spend abundant time educating people on financial intelligence which merely benefit a small section of the society. The impact of financial intelligence in a developing country is weaker because it mostly impacts those in cities which is a small scale in terms of rating.
Basic Economics intelligence is freedom to the poor. Poor countries are usually characterised with high inflation and unemployment. These two in my opinion are a result of lack of basic knowledge in economics fundamentals. Generally in poor communities the uneducated think that “increasing prices is making profit” and “becoming vendors is entrepreneurship”
This is a serious mistake and misunderstanding which can only be corrected by learning basic economics. Failure to give the Youth this information is killing the future of developing countries.
# basic economics learning should be compulsory in schools!