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Diversified Money and External Debt: A Model for the United States offers an applied economic study representing the proposed concept of how the United States can rationalize its large external financial debt.
The realization of this proposal is expected to last ten years, and after that time, the U.S. will entirely dispose of its economically intimidating foreign debt. The book stipulates that American foreign trade should be internationally free and fair. To this end, an element of economic protection is embedded in trade in the form of diversified money.
This concept does not disturb the freedom of interstate economic exchange of goods, but does protect America’s economic space from economically unfair exploitation. The proposal’s pure economic benefits are envisioned to enrich the U.S. by $43 trillion over ten years, an average annual economic growth of over four percent, which would be the most favorable economic period in American history. In addition, this would protect the country from frightening major economic-financial crisis, which lies in international external debt.
Per the author:
If we start with the fact that the external debt of the U.S. in 2013 was 31.27 percent of all external debts in the world, it can be concluded that it is the world’s biggest economic problem.
(About the Author)
Born in Croatia, Ivan Ovcaricek-Rostok earned three economic degrees at the University in Zagreb, including a master’s and a doctorate in science. He worked at big companies in Croatia as an analyst, director of factory, and financial director. He did scientific research and has published forty-five professional and scientific papers in economics.
