The sort of article I have been looking for... a truly remarkable piece from Peter Coy, he seems to "know his onions". A well-balanced piece of information for "Non-Compartmentalized" thinkers/readers.
The sort of article I have been looking for... a truly remarkable piece from Peter Coy, he seems to "know his onions". A well-balanced piece of information for "Non-Compartmentalized" thinkers/readers.
Bobby Broot-Blay 8 years ago
this is educative. pure economics learned in an article by an economist, journalist, lawyer, financial consultant, scientist. francis kwarteng is just fabulous at writing.
this is educative. pure economics learned in an article by an economist, journalist, lawyer, financial consultant, scientist. francis kwarteng is just fabulous at writing.
Prof Lungu 8 years ago
When it took more than six months for Baidoo to respond to an essay by Francis Kwarteng, the torrent of essays Baidoo began posting on this forum and others were sharply divorced from actual reality.
Baidoo continues to d ... read full comment
When it took more than six months for Baidoo to respond to an essay by Francis Kwarteng, the torrent of essays Baidoo began posting on this forum and others were sharply divorced from actual reality.
Baidoo continues to do that, and we've observed Kwarteng decreasingly responds directly to Baidoo.
However, in the last series from Baidoo, we noticed Baidoo would not take a moment to respond directly to Kwarteng (readers can check for themselves), even though his essays are first and foremost about Kwarteng, before any substance, that is, if those serials "Can of Worms" postings by Baidoo have substance in the first place.
In our field of practice, we call that no respect, no decency, and no reciprocity!
We are sorry to say Baidoo has proven he has none of the above values.
Further, substantively, all the serial postings by Baidoo on economics, all of them abstract, theoretical, without useful value for the average Ghanaweb reader, are sharply divorced from politics and governance, and, again, actual 2015 reality.
This recent (2014) copy of an essay by Peter Coy, Bloomberg Business Economics Editor, demonstrates that politics and governance are more important to theoretical economics, or, we must love truly anarchy.
READ: "...“There are still many people in America who regard depressions as acts of God. I think Keynes proved that the responsibility for these occurrences does not rest with Providence,” Bertrand Russell, the philosopher, wrote in his autobiography in 1969..."
ITEM: Government matters, that is, the use of government power matters. The right wing in America would want us all to behave as if "depressions (are) acts of God", unless, it is to their benefit in subsidies, free interest rates, free money in property values made possible by government regulation, and zero payment of taxes, among them Social Security taxes.
No corporation in the world creates value or wealth without it being underwritten by government!
When Ghanaian national Baidoo lends his voice to the right wing of America and for unrelated, rather odd reason takes a jab at African American activist Rev. Al Sharpton, we are forced to conclude Baidoo does not know America (or even the Europe he calls home).
Ghana, there is more socialism in America for the "right people", than there is capitalism in Switzerland, Holland, etc., for all the people.
Thanks again, Francis Kwarteng.
mensah 8 years ago
Hello Prof Lungu this piece from Francis is just too good. I am expecting more of this stuff from him and others and I hope he never 'sinks' to start using insults. Insults is what the Ghanaian is extremely good at even among ... read full comment
Hello Prof Lungu this piece from Francis is just too good. I am expecting more of this stuff from him and others and I hope he never 'sinks' to start using insults. Insults is what the Ghanaian is extremely good at even amongst intellectuals and I reckon it's from our upbringing.
C.Y. ANDY-K 8 years ago
Shocking! Five comments and in three of them, the writers obviously didn't know that Francis didn't write this article, despite the fact that the writer and source were splashed there.
Two of those people are also obvio ... read full comment
Shocking! Five comments and in three of them, the writers obviously didn't know that Francis didn't write this article, despite the fact that the writer and source were splashed there.
Two of those people are also obviously semi-illiterates and so didn't understand this superb piece and started abusing Francis for it!
Geee! We're in trouble! These uneducated uncouth characters!
As for Baidoo, I'd say to him what I say to Africans who come preaching to me about Jesus and what not: if the acclaimed civilized and developed white people are saying and writing things much in conflict with what's in the Bible, why should I listen to Africans like them not yet recognised as among the civilised/developed peoples/nations of the world?
Besides, I come from the coast and have over 500 years of contact with Europeans behind me unlike most of them Africans who come from the interior and barely had 100 years of such a contact prior to our independence.
Baidoo's abstract empiricism is a distraction that has no portency for the future.
Andy-K
Mahmoud 8 years ago
Francis can not change his style. The article is a cut and paste one, otherwise you would have seen a lot of insults in it, especially, against the UP and Danquah.
Francis can not change his style. The article is a cut and paste one, otherwise you would have seen a lot of insults in it, especially, against the UP and Danquah.
MARCUS AMPADU 8 years ago
I hate to burst the bubble of my fellow Ghanaans engaged in this debate to nowhere, debate couched in neo-classical economics that overlooks ecological economics. I will turn to Herman Daly not to John Maynard Keynes for comi ... read full comment
I hate to burst the bubble of my fellow Ghanaans engaged in this debate to nowhere, debate couched in neo-classical economics that overlooks ecological economics. I will turn to Herman Daly not to John Maynard Keynes for coming to grips with microeconomic & macroeconomic ecological accounting which definitely would usher our country into a more sustainable future.
Please let's start reading about ecological economics, if you haven't already. For as Lewis Mumford said, "All thinking worthy of the name must now be ecological". He continued,
" There can be little doubt that the environment and the ecological balance of the planet are no longer sustainable."
Prof Lungu 8 years ago
MARCUS AMPADU,
YOUR: "...For as Lewis Mumford said, 'All thinking worthy of the name must now be ecological". He continued,
" There can be little doubt that the environment and the ecological balance of the planet are no ... read full comment
MARCUS AMPADU,
YOUR: "...For as Lewis Mumford said, 'All thinking worthy of the name must now be ecological". He continued,
" There can be little doubt that the environment and the ecological balance of the planet are no longer sustainable.'"
WE SAY: We also recognize the prophetic vision of Lewis Mumford.
After are the abstraction and theoretical posturing, the simple message we take from Keynes is that governments matter, that there is power and politics behind economics, always.
Society needs the power of government to solve ecological problems, to avoid/tame the tragedy of the commons.
ITEM: Those who throw away Keynes will tell you there is no proof "the environment and the ecological balance of the planet are (NOT ANY) longer sustainable." That is the unequivocal message from "the other side", as we see it!
When will Kwarteng stop his nonsense?
The sort of article I have been looking for... a truly remarkable piece from Peter Coy, he seems to "know his onions". A well-balanced piece of information for "Non-Compartmentalized" thinkers/readers.
this is educative. pure economics learned in an article by an economist, journalist, lawyer, financial consultant, scientist. francis kwarteng is just fabulous at writing.
When it took more than six months for Baidoo to respond to an essay by Francis Kwarteng, the torrent of essays Baidoo began posting on this forum and others were sharply divorced from actual reality.
Baidoo continues to d ...
read full comment
Hello Prof Lungu this piece from Francis is just too good. I am expecting more of this stuff from him and others and I hope he never 'sinks' to start using insults. Insults is what the Ghanaian is extremely good at even among ...
read full comment
Shocking! Five comments and in three of them, the writers obviously didn't know that Francis didn't write this article, despite the fact that the writer and source were splashed there.
Two of those people are also obvio ...
read full comment
Francis can not change his style. The article is a cut and paste one, otherwise you would have seen a lot of insults in it, especially, against the UP and Danquah.
I hate to burst the bubble of my fellow Ghanaans engaged in this debate to nowhere, debate couched in neo-classical economics that overlooks ecological economics. I will turn to Herman Daly not to John Maynard Keynes for comi ...
read full comment
MARCUS AMPADU,
YOUR: "...For as Lewis Mumford said, 'All thinking worthy of the name must now be ecological". He continued,
" There can be little doubt that the environment and the ecological balance of the planet are no ...
read full comment