Economy of Burgundie
Burgundie's economy is comparatively massive, highly-advanced and industrialized, with a national GDP of $10 trillion and GDP per capita of $50,170 as of 2028, and a low unemployment rate of only 3.26%. The official currency, Imperial Dollar ($), is the currency of the Holy Levantine Empire. The private sector and nonprofit sectors represent 59% of the country's GDP and the public sector the remaining 41%.
The Burgundian economy is dominated by maritime trade, followed by the heavy manufacturing. The maritime sector accounts for 43.5% of the national GDP, and employs 37% of the population. Heavy manufacturing makes up 16.6% of the GDP, and employs 20.1% of the population. Economic growth for the last fiscal year was slow, with a growth rate of only .76%. The private sector dominates the national economy, with the private sector constituting 84% of the economy and the public sector just 17%.
As a post-industrial economy, Burgundie is highly reliant on global market to perform well in order to ensure that the local market remain healthy. The Merchant Marine of Burgundie has a total capacity of 214,573,650 metric tons spread across 4,146 ships, and is dominated by O’Shea Container Shipping, Lansing Lines and Doppel Gangway. Burgundie plays a major role in maintaining international trade at the sacrifice of its own self-sufficiency and resources independence. Since history has dictated that Burgundie maintain a thalossocratic presence in the world it controls very little land, all of which has long been stripped of its natural resources.
A central feature of the Burgundian economy is the economic freedom afforded to the private sector by allowing the private sector to make the majority of economic decisions in determining the direction and scale of what the Burgundian economy produces. This is enhanced by relatively low levels of regulation and government involvement, as well as a court system that generally protects property rights and enforces contracts. Today, Burgundie is home to 3.7 million small businesses, 884 millionaires, 58 billionaires, as well as 15 of the world's 500 largest companies.
From its emergence as an independent nation, Burgundie has encouraged science and innovation. In the early 20th century, the research developed through informal cooperation between Burgundian industry and academia grew rapidly and by the late 1940s exceeded the size of that taking place in much larger countries.
- 1 Culture and trends
Culture and trends
On the local level Burgundie has deemed itself a “shoeshine/barbershop economy”. What this means is that aside from large scale conglomerates most businesses are small scale and serves the individuals who work for the conglomerates. The term comes from the practice of workers getting a shave and having their shoes shined before work at mobile barbers and shoe shiners that roam the early morning streets on the way into work. The concept more broadly applies to all of the service industries that support the working classes doing their work. The Bureau of Labor’s Divison of Labor Statistics have speculated that these small one-man enterprises generate a massive amount of economic activity in the country.
Wealth, Income and Economic Classes in Burgundie
The nominal GDPPC of Burgundie is $50,170. This is reflective of the economic situation in Burgundie. The following is a break down of the economic classes in the country and their designations as determined by the nation's tax code.
|Economic Class||Annual Household Salary||% of Total Population||Number of Pop. in Class|
|Rich||more than $500,000||4%||8,000,000|
|Impoverished||less than $25,000||3%||6,000,000|
On average the Golden Council of Ten allots $4.1 trillion in discretionary funds each year (41% of GDP).
Private Sector Spending
Representing 59% of the economic spending activity in Burgundie. 48% of the is represented by e-commerce.
The Imperial Dollar is considered one of the world's strongest currencies, currently exchanging at U$1 for $1.95 USD. The currency itself is the common currency issued by the Holy Levantine Empire and used by most of the states therein; nevertheless, it is primarily coined in Urceopolis and much of its stability is attributable to the Royal Bank of Urcea. The Imperial Dollar is often used as the "default currency" of business in Levantia and even in some parts of Crona and Ixnay, as well as finding use in parts of Punth as a general currency of trade. It is a fiat currency, though in the past it was based on a gold standard. The Dollar is one of the globally accepted hard currencies and is a primary reserve currency in Levantia and abroad.
Despite the uniform nature of the Dollar, it will still have some regional variety in the type of bills and coins themselves; Burgundian bills, for example, tend to show scenes of the thalassocracy's history related to their mastery of the sea. Other states of the Empire tend to display their head of state or historic heads of state alongside the seal of the Empire.
Since 2021 the central bank has started to experiment with the use of Bitcoin, the Burgundian Security Forces and the intelligence community in particular have been using the crypto-currency almost exclusively. In the private sector Bitcoin is estimated to be 4% of total transactions in 2027, and there has been a particular uptick in the use of Bitcoin by large international corporations headquartered in Burgundie. Economists estimate that 14% of the Burgundian GDP will be represented by Bitcoin by 2030.
The Black Market and Corruption
Because of its reliance on trade and the private sector the Burgundian economy has long been fairly unregulated, by the government. However, the private sector has a long tradition of cooperation with the Revenue Guard and policing any black market activity. As such, the black market is practically non-existent. This does not apply to the internet. Intellectual property piracy in Burgundie is rife and the conservative, traditionalist Revenue Guard have been slow to respond. In response to this, the private sector has turned to the court system and since approximately 2003 the courts have been presided over by pro-business judges. This has led to cries among the populace that a certain level of corruption exists in the courts, which is anathema in the country where corruption is tantamount to treason.
A Brief History of Corruption in Burgundie
When Burgundie became independent, it eschewed as many Kuhlfrosi institutions and traditions as it could, to distinguish itself. Corruption was one of those traditions, less an endemic problem across the whole of Kuhlfros and more an issue with the Kuhlfrosi appointed Dukes in Burgundie. In the early days of independence a moral and social campaign was embarked upon to do away with corruption. It was soon considered an affront to not only your family, but your community and the fledgling nation. The strong sense of commonwealth of the BergesMenn, that has always kept them together despite foreign rule, was also at stake in corruption cases and the citizens wouldn't stand for it. In time, corruption, while not legally punishable, was to become social suicide. Families with ties to corrupt politicians and businessmen were shunned and socially exiled. In the 21st century this is as true as ever and in light of the accusations that the justice system is corruptly pro-business, people have begun to question the courts more openly.
Welfare Capitalism and Commonwealth
The sense of commonwealth among the BergesMenn is born from the ancient raiding traditions of the Helvianirian vikings. Each man looked out for his fellow boat-mates as though they were his brothers. If the viking were to die the men of the boat would adopt and support his wife and family until she remarried. When the vikings became "landed" the "boat bond" was continued in each hamlet. They became known as Måltid gruppe (Eng. meal groups) this meant that the bread winners were collectively responsible for feeding the hamlet at the evening meal. This sense of commonwealth continues to this day with the practice of Måltid gruppe not only in the neighborhoods around Burgundie but also, starting in the 1920s the rise of public health concepts led major companies to adopt the Måltid gruppe mind set. In the 1980s many companies were buying apartment blocks and high rises near their factories and subsidizing their rent in order as an incentive. These "company rows" had become standard practice and by the late 80s, every manufacturing plant offered housing to all of its employees. This form of private sector socialism staunched the rise of the communist movement in Burgundie because it staked the fortunes of the the working class on the upper class. Communist theorists decried this move as exacerbating the issue of inequity, but by the 1990s the communist movement in Burgundie was essentially dead.
Top 10 Largest Burgundian Companies
- Lansing-Mitchell Weaponeering-small arms weapons manufacturing
- O'Shea Heavy Industrial Systems-global shipping and infrastructure construction company
- Lansing Lines-local rail and maritime shipping company
- Doppel Gangway-specializing in passenger liners, primarily offering service between the Burgundian territories
- Christensen Holdings-real estate, infrastructure investment, lending, wealth management
- Roth Insurance LLC-insurance firm offering all forms of insurance, but specializing in maritime insurance (also has an armed maritime escort service)
- Cross Trucking Company- a mid-sized automotive company specializing in industrial, police and non-combat military vehicles
- Beacon Business Continuity and Incident Management- split into two divisions, Beacon BC/IM offers both Business Continuity and Incident Management services
- Perfect Storm Emergency Response Corps- comprehensive emergency management service with a volunteer corps of 2,020 personnel who can mobilize to any part of Greater Ixnay in less then 48 hours
- Waldo Green Grocer Company- a massive international supermarket chain