My first impression of the
title of this article was more of sociology / philosophy concept of arguments
but when I finished reading it, I found myself puzzled; the piece was about
economy so I read it again and still in my opinion the title doesn’t really
represent the body because it’s mostly about “Capitalism” and “economic
inequality” rather than “economic
diversity". Beside the title and concept of this article
there are some statements made by Stone that I would like to address:
1. The
article starts as: “Economy is the centerpiece of society” which I believe
otherwise. A society, most commonly, known as: “a group of people with common
territory, interaction, and culture”. The role of the economy is to establish
formal relationships among people as their daily business of living.
2. Natural
Resources: Natural resources undoubtedly play an important role in the
economy of many countries but it doesn’t guaranty the economic prosperity
because depending on its easy revenue takes away motivations to develop other
areas of economy and can cause corruption or conflicts. While some of
the richest countries in natural resources remain undeveloped there are
countries like Japan, South Korea or Switzerland who thrived to become world major
exporters with no natural resources.
3. I
don’t deny that some of the wars are motivated by economic interest, however
some others have geopolitical importance such as civil war in Syria which is
the war between two global-regional rivals, Russia - Iran on one side and
United States - Israel on the other side. Syria by itself does not carry any
economical importance.
4. Wealth inequality: The graph
bellow is based on some of the facts from “Why
Nations Fail” book written by Acemoglu and Robinson, and
it demonstrates the growth of wealth inequality in some of countries from 1985
to 2012, however as it appears some countries have been able to slower it by
offering a better social services to their citizens and more effective tax policies.
I believe that wealth inequality will always remain as
part of our society and technically it would be justifiable to some extend,
however I am not as pessimistic as stone and trust that our society smartly
will be adjusted and corrected accordingly in the process of evolving and
progress.