Many small businesses are asking me what the economy will be like in 2023 and what can be done to improve it.
On The Small Business Radio Show this week. Jarl Jensen believes that we need to take anengineering approach can fix our economic problems. He is the Forbes Books author of “The Big Solution: Deactivating the Ticking Time Bomb Of Today’s Economy”. Jarl is the founder and president of Inventagon, a company creating simpler research and development solutions for organizations across the globe. He holds patents for medical technologies that have reached sales of over $1 billion. Jarl founded EuroMed, a company he sold in 2016, and has written five books about the economy and its relationship with society.
Jarl says that an engineering approach can fix our economic problems; “We have inflation because people got free money without working and then of course there are supply chain issues. In order to change society, we need to look at the mechanics of how the Federal Reserve works. “
He adds that “the Fed prints money so the member banks can borrow and then lend the money to corporations and consumers. This greatly limits how money gets into society and its inefficient. Currently, the restricts money and so rates go up to stop inflation, but people lose their jobs. The price we pay for this system is massive.“
Jarl’s solution is to stop having the federal government throwing money at the biggest problems that don’t work. “It’s too big unlike commercial businesses that can be laser focused on solving issues. Engineer the Fed and use the free market to solve the problems.”
He would solve the poverty problem by a using a direct deposit from the Fed like $5 a day to give people the ability to take care of themselves. “The government is spending these trillions of dollars through safety nets anyways! It’s much more efficient!”
Listen to Jarl’s interview on The Small Business Radio Show.
Get the latest headlines from Small Business Trends. Follow us on Google News.
Personally, my belief is that the government is almost never the solution to problems. People/communities are better solutions and by operating at informal, local levels they avoid the huge administrative costs that government solutions include.