Xyonist Economics |
| Commerce and banking is the lifeblood of the Union of
Xyon where its role is to bind the member systems together in a
symbiotic relationship that promotes prosperity.
This prosperity enhances stability, which in turn advances peace.
“Unity, Prosperity and Peace.”
This is the fundamental philosophy that underpins Xyonist society
and colours the Union’s view of the Universe.
It manifests itself most obviously in the Union’s external
policy with the Most
Righteous System Status, a sort of kosher stamp of approval conveying
advantages when trading with the Union.
Life was hard for the early colonists and they frequently had to make do with the fruits of their own labour, as imports were often prohibitively expensive. The result was a culture that abhorred waste, recycled everything, and encouraged innovation. A determination to see their colony succeed and remain free and beholden to no one led to an ethos of economic self-reliance, which, when married with the natural instincts of the colonists, created the perfect environment for the fledgling Xyonist corporations to grow and flourish.
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| The
Stock Exchange of Xyon (SEoX) was established at the Glimmerdrift
Exchange in Metropolis on 2964.111, shortly after the re-branding of the
Union. It quickly consolidated its position as the focal point for a
Union wide stock and commodities market and helped to secure the future
of the new and growing number of pan system corporations that regarded
themselves as ‘Xyonist’ first.
Alongside this development a strong banking sector grew up with
dozens of new financial institutions.
In recent years there has been a trend towards consolidation and
the number of institutions has fallen while their size has grown
accordingly. Today the SEoX
is one of the most dynamic exchanges in the Universe.
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| A belief in free trade and the inappropriateness of
government interference in corporate affairs are two fundamentals of
Xyonist economic policy. However,
the UoX is not an advocate of laissez-faire.
Arguably the most influential ministry is the Ministry of
Commerce whose remit is to actively promote the interests of Xyonists
corporations and ensure that economic policy is used effectively to
further the interests of the UoX. They
believe in encouraging self regulation and best practice within business
rather than government intervention and red tape.
It has been claimed that the Ministry of Commerce is nothing more than a political front for big business, but this is not the case. The Ministry has, for instance, taken a tough stance on anti-competitive behaviour. Also, ever since the Bernie Hamilton ‘cash for favours’ scandal in 3175, all corporate funding of political parties is required to be above board and declared.
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| Agama is the hub of the Xyonist economy, but over
recent years impressive economic growth has been achieved in the
remainder of Q0 as a direct result of the policies
promoted by the current coalition.
Part of this program to decentralise the federal economy was achieved by encouraging a number of
key Xyonist corporations to relocate their head offices from Agama to
other Q0 systems, including Hat Yay Sirukit, DAN, Teng Ling Zanussi and
Rafael.
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| A powerful triumvirate of the Ministries of Commerce,
Finance and Internal Affairs works to co-ordinate economic policy
throughout the Union for the betterment of the citizens and corporations
of the UoX. The Ministry of
Commerce promotes trade and commerce in general whilst the Ministry of
Internal Affairs strives to focus those efforts on the member systems at
the same time as working with the Ministry of Finance to implement Gideon Braun’s Golden Rule (see
History).
After internal investment, the other main responsibility of the
federal budget is financing the XDF and key research, as most other
areas of government expenditure are controlled by the Knessets.
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