What solution do you propose to make the economic revolution? Who led this revolution? I think the current economy is stable. Due to the COVID-19 disease situation, countries around the world were forced to close their borders. Therefore will lead to severe economic recession. But once the COVID-19 vaccine is obtained, the world economy will function normally again. It may take 1-2 years to recover the economic losses during this epidemic. And the governments have many measures to support people like the United States has given each citizen $ 1800 per month.
Not all countries can support their people like the United States. Even if it is possible for how long can the state provide subsidies for its people? Until finally the Government must ask for help from the IMF and the world bank, which in turn adds to the country's debt with a cover of aid. Don't compare other countries with America like comparing hawk eyes with Thanos in resolving a pandemic. America with its dollar that is used all over the world and has a habit of printing money from thin air. In contrast to developing countries or poor countries which have to be patchy to over budged to overcome a pandemic.
The world does need an economic revolution so that the rule of play is fair for all countries. Indeed, the revolution will not directly solve the problem but at least break the chain of imbalances and injustices of the world order.
The economic revolution that needs to be carried out is:
- Banks changed from margin oriented to service-oriented
- The use of money with intrinsic value
- Function of money only as a medium of exchange rather than assets
- Non-real economic sectors must be eliminated so that money revolves in the real sector
- There is no privatization of natural resources related to the lives of many people