>And it is known how to build such culture in relatively short time frame, culture. Just look at Japan, South Korea or Taiwan. Indeed. To expand on that, ther

>And it is known how to build such culture in relatively short time frame, culture. Just look at Japan, South Korea or Taiwan. Indeed. To expand on that, there is an economist Richard Werner [1] who has studied that process in depth. The TLDR is that new money/credit creation needs to be allocated primarily toward production and innovation, vs consumption or asset speculation (the three things money can be allocated toward). In post-WWII Japan this process was called "Window Guidance" [2], an informal system by which the BoJ directed the banking system to fund industrial development. The Asian Tigers and then China all copied the model in their development program too, so it's clearly portable, but interestingly remains informal. You would think an effective model like this would be formalized into law at some point. [1]:https://professorwerner.org/; https://professorwerner.org/; https://www.researchgate.net/profile/Richard-Werner https://www.researchgate.net/profile/Richard-Werner [2]:http://princesoftheyen.com/central-bank-money-creation/ http://princesoftheyen.com/central-bank-money-creation/ (scroll down to Window Guidance section).