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The E.U. could be an example of a world government on a smaller scale.
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Exactly why we should not have a world government. The EU is a largley berocratic organisation with minimum democracy which dictates to members constricting laws.
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If we hypothetically accepted it has worked, some benefits would include:
Great economy... all workers at a consistent and fair minimum wage, nobody going elsewhere to build factories.
No wars... aside from the secret police force we would need to fight the underground resistance, there would be no real wars. (assuming people have accepted the world government)
Science improvements... no one would fear what they released to society, and that sharing of knowledge would be able to spread much faster, along with greater overall government spending for studies.
Better crime fighting...we've just established a secret police force ( ), but also prisons would be better than the ones in China or some place. More well equipped police force, as all cops would have the best technology at hand.
There is a possibility we may lose the capitalist system but probably still have world-wide democracy, no?
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I agree hypotheticly that it would be great but it is the practicalities of making it a reality and keeping it democratic which I find hard to concider.