Wealth Creation, Resource Imperatives and National Development

Abstract

Wealth is synonymous with abundance of valuable resource/material possessions. An individual, community, region or country is said to be wealthy if there is visible possession in abundance of such resources, especially for the common good. Development is about all-inclusive growth and other stakeholders to work with the advocacy of expert that justifiable national economic processes should culminate in quantitative and qualitative improvement, particularly in material, emotional and spiritual conditions of human existence. It should be and realizable sustainable in ways that are consistent with the promotion and protection of human dignity, as the absence of any advancement component renders the claim of development merely idealistic, if not spurious. The overriding goal of national development, therefore, remains to improve the lives of the citizens in the affected society within the context of a growing economy, which equally underscores the common good of the entire community. For sustainability, therefore, these strategic concerns necessitate efficient and effective reinvention of natural capital for higher income generation, redirection of intangible capital for greater wealth creation, and reduction of adverse emission effects for better industrial impact. Ultimately, national development plans and policies should be well phased and seen to be based on perceived needs of the citizenry. Transformational frameworks should be more economically potent towards generating gainful employment, reducing poverty, ensuring available/affordable housing, accelerating community development, and sustaining the national wealth creation drive over time.

Keywords: Economic Development, National resources, Wealth Creation