Economy of Dynamo Island

The national aim of Dynamo to sustain near full employment and general prosperity on the basis of a zero economic growth, is one that has been largely achieved through careful balancing of productivity and environmental demands. The country’s exports and imports are largely balanced. This is made possible by the country’s self-sufficiency in food and its economy’s minimal dependence on oil. Exports are high quality agricultural goods, machinery, electronic goods, wood and paper products, sports equipment, textiles; imports are raw materials (especially metals), coal, aircraft fuel. The economy is about 500 billion euros. Huge energy savings are possible since there is no motor transport and thus little use of oil. Recycling is a major industry and employer. National and regional projects are instigated if unemployment reaches higher than 5%. The gap between rich and poor is kept as narrow as possible. Since the 1960s, 80% taxation has been instituted for those earning more than €250,000 per annum. Taxation is high in all income categories but compensated by heavy state subsidies on health, education, transport and social welfare. Owing to the strict controls on financial dealings, the crisis that devastated the economies of the western world after 2008 was largely avoided. The main banks are national-owned and strictly regulated, with a rigid separation between savings and investment. The Veloxeter stock exchange is relatively small since speculation is less part of the economic ethos of Dynamo than is the case in other western countries. The desire to acquire inordinate wealth is generally frowned upon since the Dynamo ethos is centred on preserving the environment and a healthy, balanced life-style. Since there are no cars or private planes and private ownership is restricted to a maximum of two properties, scope for conspicuous consumption or display of wealth is markedly reduced. As a member of the EU and the Euro, Dynamo is subject to the same legislation on labour movement and budget restrictions as other European countries.