First Law of Economics – Developed by Gerard Francis Lameiro, Ph.D.
First Law of Economics. Dr. Lameiro’s First Law of Economics is simple, yet profound in its practical consequences for promoting economic growth as well as for promoting global peace and prosperity. The First Law of Economics states that:
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All economic systems consist of an economy, embedded within a political system that in turn is embedded within a religious/cultural system.
It is impossible to study an economy completely, isolated from the political system in which it lives and from the underlying religious/cultural system of a given human civilization. An economy does not exist in a vacuum.
This observation makes all the difference in the world:
- For understanding economics and the dynamics of actual economies,
- For developing economic growth models,
- For forecasting economic growth results,
- For developing economic growth policies,
- For promoting economic growth,
- For reducing poverty,
- For raising the standard of living for everyone,
- For creating economic growth, economic wealth and prosperity,
- For eliminating the poverty of destitution throughout the world, and
- For promoting global peace and prosperity.
To create economic growth and to foster global peace and prosperity, it is necessary to recognize the interdependence of a given economy, a given political system, and a given religious/cultural system. Taken together, they form a foundation for empowering spiritual and material growth.
American Capitalism is the prime example of an economic system that catalyzes spiritual and material growth and that results in free and peaceful, economic growth and prosperity.
For more information related to Lameiro’s First Law of Economics, you can also read Dr. Lameiro’s powerful and important book: America’s Economic War. You can also read these items on this website: