“economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting or growing incomes and the tax base”
“economic power having the material, labor, or money to influence and enforce economic decisions”
“economics the production, distribution, and consumption of goods and services”
Economic power and economic development produces a certain level of freedom. This freedom is in large part rooted in the psyche of man. It is the perception of controlling one’s actions and decisions based on values and priorities while in reality still bending to the will of others. After all, no man lives in a vacuum.
Unlike formal education programs (aka degrees and diplomas), one cannot complete the journey to economic power or economic development. One person will never have all economic power. One person will never be fully developed. Hence, it never ends which is the beauty and the curse. By never-ending, one is forever growing, shifting, gaining, improving. By never-ending, one is also constantly judging, criticizing, internalizing, and revising. In this never-ending process, one’s cognitive acuity is forced to grow and attune.
In the USA, federal laws and regulations benefit business-owners and property-owners. One way for marginalized or forgotten groups to gain economic power and improve economic development is to take advantage of the benefits given to business-owners and property-owners. Real Estate is an ideal opportunity.
As we discovered in 2008, some entities are too big to fail. All of these entities, were at the least negligent with their Real Estate portfolios and/or securities. The individuals at the helm of these institutions were terminated with pay and then re-hired by government organizations to fix the problem.
The marginalized or forgotten groups must discover how to leverage this safety. I am working on a 10-point plan.