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| -�Fadi Abboud-�There has been a well-known story circulating for over a decade that demonstrates the capability of the human mind to find ways to do less and gain more. It concerns an American university professor who taught his students about socialism through a class experiment by averaging their grades so that no one would fail.With every exam, the efforts of the hard-working students declined in reaction to their less enthusiastic friends and the average grade declined incrementally until it reached a point where all the students failed.As a counter-argument to the students? protests, the professor told them that socialism would also ultimately fail because without rewards no one will want to try, let alone succeed, whereas when the reward is great, the effort to succeed is great.The moral of the story can be applied to any government through common sense and progressive political thinking. It is impossible to strip the wealthy of their prosperity and redistribute it to the poor. As the resour ces of the government are limited, it is only natural that sacrifices must be made by many layers of society to provide the funds necessary to ensure welfare.When one side sees they are prospering from the work of others, it is only natural that they lose any will to work themselves. And as they reap the benefits from others? work, the working side will lose any incentive to contribute in light of the injustice occurring from their point of view.For Leba non, the answer lies in multiplying wealth through the creation of opportunities by introducing research and development programs that will ultimately stimulate economic growth and encourage the youth to increase their stake in the nation?s future. Multiplying wealth has never succeeded by dividing wealth.Furthermore, by allowing the government to find new sources of funding without resorting to direct taxation of income, thus bypassing socialist principles in favor of more passive methods of taxation, Lebanon can succeed in empowering its youth and advancing its economy.Two questions inevitably arise from two opposite perspectives. The hard-working, wealthy individuals will wonder whether there is justice in tapping their earnings for the benefit of complete strangers. The opposing levels of society will resort to the same call for justice by claiming that they are even more deserving of their nation?s wealth on any number of grounds ranging from governmental inadequacy to corruption and basic human rights.It is time to rethink the socialist model applied to Lebanon without leaving the perceived model of a free economy unchecked. T he state of stagnation that swells in Lebanon?s economy contradicts the liberal economy open to the world, as was the case with prosperous countries such as Brazil and Turkey, which have forsaken socialism altogether for a mixed system of free market economics.The fact of the matter is that Lebanon?s economy is closed from the inside, just like the minds of those who have no opportunity or incentive to create or utilize their full potential.However, Lebanon has the potential to become a regional hub and this has every possibility of becoming a reality given the high level of Lebanon?s education and the existence of know-how that could attract investment from abroad and turn the nation into a solid contender on the global stage.With calm prevailing in the country since 2008, the relatively low impact of the world financial crisis, its highly skilled workforce, strategic geographic positioning and stable currency, Lebanon has had every opportunity of becoming a serious economic competitor to any nation in any sector of industry and all service sectors.The Lebanese banking sector has survived the global financial crisis in no small part due to the fact that its interest rate spread remains at 2.1 percent, which makes the country a very attractive location for financial operations.But this has done little to aid the Lebanese economy, which remains heavily dependent on the services sector and merchandise trade, while struggling with an official unemployment rate of 10 percent, which in reality stands at well above 20 percent.Furthermore, it is simply unsustainable to exist in an economy of 6 percent inflation, which keeps on rising, with growth dwindling by 2.5 percent annually, according to the International Monetary Fund. Considering that the MENA region?s growth stands at an average of 3.6 percent, it is certain that Lebanon?s economic situation can achieve and even surpass these values.It is the obligation of the government to stimulate the economy and to give the people opportunities to ex pand and invest. New ways must be found to fight corruption and reform one of the most inefficient governing syst ... Source: http://www.tayyar.org/Tayyar/News/WorldNews/en-US/abboud-economics-article-zek-980.htm The FA Lloyds Banking Group Supermarkets Sepp Blatter Football politics Sweden 
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