THIS IS A TOTAL TAKE-DOWN OF THE FAUX REPUBLICAN-LIBERTARIAN (AND HYPOCRITICAL MCCASKILL) & OTHER ABSENT-MINDED "DEMOCRATS":
Imagine - trillions of dollars from government to businesses: sam ... read full comment
REVISED FROM THE OTHER SIDE:
THIS IS A TOTAL TAKE-DOWN OF THE FAUX REPUBLICAN-LIBERTARIAN (AND HYPOCRITICAL MCCASKILL) & OTHER ABSENT-MINDED "DEMOCRATS":
Imagine - trillions of dollars from government to businesses: same businesses that screwed up the dance in the first place!
Imagine - Morgan Stanley had their warm hands and fuzzy maths behind the modern Greek tragedy - the economic one, you must know!
ITEM: Our sub-title is not intended to say the Republicans in the US (and those so-called Liberals in Ghana) are not also hypocrites!
Most of them are!
READ: "...“When Clinton supporter Senator Claire McCaskill says... 'I very rarely read in any coverage of Bernie that he's a socialist...she also forgets to mention that Missouri banks received $641 million in TARP money...'This is socialism...'Not only do people confuse the definition of socialism, but they've also ignored the definition of hypocrisy...'While Republicans and Clinton supporters attack Bernie Sanders for being a 'socialist,' they conveniently forget that Vermont's Senator voted against the Wall Street bailouts.... the U.S. government's 'direct investments in financial institutions... totaled roughly $9 trillion by 2011, with initial ...commitments...of around $12 trillion... The 2008 financial collapse resulted in $29 trillion of federal bailout commitments, the partial nationalization of nine major banks, and the 'means of production'...(pertaining to some of the biggest corporations on the planet) partially owned by the U.S. government.
WE SAY: As we've said more than once: There is more socialism in capitalist America than there is capitalism in socialist Sweden!
THEN THIS: "...In reality, the heart of the Democratic Party has always been full of democratic-socialists, and FDR is a prime example. In 2016, Bernie Sanders could be our next democratic-socialist in the White House, which ironically would be a greater step away from the costly Goldman Sachs Socialism adopted by the Bush administration...”
WE SAY: We hope Ghanaian officials are paying attention to these series of essay that were spurred in part by the remarkable absent-mindedness of Phillip Kobina Baidoo,our newly-crowned " Persemankonya-Libertarian Krachi."
Oh, who it so fits in Ghana-speak --- Persemankonya-Libertarian Krachism!
Greetings!
KBK 8 years ago
A senseless article copied and pasted by the insane Francis kwarteng and being dabated by lunatics. Let us wait for some few other idiots like C.Y. Andy-K and Kojo T(amakloe) aka dirty Ewes etc. to join and then it becomes pe ... read full comment
A senseless article copied and pasted by the insane Francis kwarteng and being dabated by lunatics. Let us wait for some few other idiots like C.Y. Andy-K and Kojo T(amakloe) aka dirty Ewes etc. to join and then it becomes perfectly perfect.
United Ghana 8 years ago
The crux of the article & your comment is hypocrisy. I couldn't agree more. Yet, these hypocrites accuse Nkrumah of being a socialist & condemn his belief in state enterprises. Socialism has saved capitalism. Ironic indeed.
The crux of the article & your comment is hypocrisy. I couldn't agree more. Yet, these hypocrites accuse Nkrumah of being a socialist & condemn his belief in state enterprises. Socialism has saved capitalism. Ironic indeed.
MARCUS AMPADU 8 years ago
Francis I'm afraid this back&forth between capitalism & socialism is passe, woefully so in our country & in Africa.
Kindly read Jeffrey D. Sach's The Age of Sustainable Development, if you haven't already. Should be a rec ... read full comment
Francis I'm afraid this back&forth between capitalism & socialism is passe, woefully so in our country & in Africa.
Kindly read Jeffrey D. Sach's The Age of Sustainable Development, if you haven't already. Should be a recommended reading for our technocrats, academicians, politicians, the public & youth.
francis kwarteng 8 years ago
Dear Marcus Ampadu,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may w ... read full comment
Dear Marcus Ampadu,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may want to go back and read "Nkrumah Did Not Force His Views On African Leaders 8" and "What Ghanaians Can Learn from Pope Francis 3." I hope you read this two.
Thus there is no need for me to cover that familiar terrain, particularly in this essay. That said, a staunch reader brought this particular article and the others to follow to my attention. He/she wants me to share them with readers.
I want you to see beyond those labels by the time the series is over. I am way past debating those who cannot think deeply about issues beyond the level of high-school. This series is none of that.
Next time I may want to debate an individual who is widely read, well informed, intellectually mature, knowledgeable, and is conversant with leading political-economic theories and what actually works in the real world (someone who has read beyond the relevant texts and papers we all studied in high school. I will not dedicate my precious time to any "debater" steeped in intellectual childishness from now on).
Thus I encourage you to see this series beyond what the labels mean.
Thanks.
Mahmoud 8 years ago
Mr. Kwarten, communism surely doesn't work in the real world. But unfortunate thing is that Kwame Nkrumah met a mixed economy in Ghana and did everything to drag us into the communist block and implement it whole heartedly in ... read full comment
Mr. Kwarten, communism surely doesn't work in the real world. But unfortunate thing is that Kwame Nkrumah met a mixed economy in Ghana and did everything to drag us into the communist block and implement it whole heartedly in Ghana. Why can't you base your arguments on the merits of communism which Nkrumah believed in and fought for rather than dishonestly deceive people with the merits of mixed economy? Nkrumah tormented the lives of Ghanaians with the failed communist ideology that you yourself now feel ashamed to talk about and discuss. Believe me, Ghana would have been a communist country like North Korea by now if NLC hadn't saved us.
United Ghana 8 years ago
Mahmoud, you're ill-informed. Did Nkrumah nationalise industries or create state industries? We're private individuals precluded from engaging in business by Nkrumah? Didn't he take GH into the non-aligned movement? There's i ... read full comment
Mahmoud, you're ill-informed. Did Nkrumah nationalise industries or create state industries? We're private individuals precluded from engaging in business by Nkrumah? Didn't he take GH into the non-aligned movement? There's is an insidious attempt to rewrite history & portray Nkrumah as a villain, by people devoid of any humanism. They are haunted by his personality, ideology, honesty & intellectual ability & are even fighting him posthumously without success. What losers!
United Ghana 8 years ago
CORRECTION: we're should read were. Sorry
CORRECTION: we're should read were. Sorry
YAW 8 years ago
A bit of a lesson from Nkrumah"s grave.
Excerpts of Nkrumah’s Lamentations are published below;
Apart from handing over public corporations to private enterprise. The, "N.L.C." announced drastic cuts in the routes ope ... read full comment
A bit of a lesson from Nkrumah"s grave.
Excerpts of Nkrumah’s Lamentations are published below;
Apart from handing over public corporations to private enterprise. The, "N.L.C." announced drastic cuts in the routes operated by Ghana Airways, the halting of work on the new international airport at Tamale in Northern Ghana, and the cancellation of a number of orders for new ships for the state owned Black Star Line. Both Ghana Airways and the Black Star Line were established by my government to break the monopoly of foreign transport companies. They were ultimately to become foreign currency earners.
At Afienya, some 26 miles from Accra, the “N.L.C.” shut down the excellent Gliding School established by flight Captain Hanna Reitsch. The school, recognized as among the best in the world was providing valuable initial flying training for members of the Young Pioneers, Army and Air Force cadets and for trainees from other African countries.
The excuse was made that these were all prestige project. The same excuse was given as the reason for abandoning or selling to private ownership other important state enterprises though everyone knows that they were surrendered because they threatened the business interests of the new masters of Ghana-the neo-colonialists and their agents. The foundation of new industries and the building up of national air and shipping lines is seen as evidence of prestige spending only by imperialists and neo-colonialists who wish to see a country revert back to the position of a colony.
The Juapong Textile and Knitting factory near Akosombo in the Volta Region. was one of the many vital development projects to be abandoned during the first few months of "N.L.C." rule. This factory, half completed when the army and police traitors seized power, was to offer employment over 800 people, and to make use of 400,000 tons of locally produced cotton from the Abutia, Chinderi and Zongo Mancheri state farms. The factory, when completed was expected to produce over 80,000 tons of textiles of various kinds annually, and about 3,000 tons of knitwear. It was the only industry sited by the government in the Volta Region and suspension of work on it therefore caused bitter disappointment locally, and resulted in a great waste of time. Energy, and money. A writer in the Ghanaian Times visited the site towards the end of 1966 and reported "the whole area desolate, with the half-completed buildings almost overgrown with weeds". The project had been started by Chinese experts, and when these were sent home no attempt was made to continue with the work.
Another example of the stupidity of sending away much-needed specialists from socialist countries may be seen in the "N.L.C.'s" decision to return the 29 Russian-built fishing trawlers which had been lying idle since the departure of the Soviet technicians. And this when the people of Ghana badly need an increase in the protein content of their diet. Later, as a result of protests, the "N.L.C.'· declared their intention to sell the trawlers to private interests.
Some 2.500 Russian and Chinese experts were expelled from Ghana by the "N.L.C . " regardless of the invaluable services they were rendering to the economic development of the country. The "N.L.C." had stated that it was "non-aligned" yet it callously sacrificed the interests of the people by abandoning precious economic projects simply for political reasons. Even the imperialist press was moved to remark:
"The new regime has pledged to pursue a policy of non-alignment while being friendly with all. But there is no mistaking the fair breeze blowing towards the Western camp at the moment" (Daily Telegraph, 10th March 1966).
All projects or schemes developed by Soviet or Chinese experts, and also several undertaken by specialists from other socialist countries were suspended, abandoned entirely or sold to foreign capitalists. Small wonder William H. Beaty. Vice-President of the Chase Manhattan Bank of the U.S.A, was quick to visit Ghana and spoke of the "favourable investment conditions" owing to the "remarkable strides" which had been made since 24th February 1966. Like his counterparts in other capitalist countries, he doubtless regarded Ghana under the "N.L.C." as just another client state set up to sustain Imperialism, neo-colonialism and the capitalist economies of the West.
Traitors among our own people are helping in the sell-out. Seeing the opportunity to make quick money some of them have become "market analysts" for prospective investors. Perhaps they hope the grand-sounding name may disguise the fact that they are raking in vast sums of money by acting as middle-men in the disgraceful and indiscriminate disposal of Ghana's state property to private enterprise.
Their task has been made easy by the encouragement of prospective investors by advertisements of the Capital Investments Board. They have been promised generous concessions, including a ten- year tax holiday and the free transfer abroad of profits after the payment of any tax due. What a paradise for neo-colonialists-the free transfer abroad of profits and a tax holiday; and all this without any strings attached. In their wildest dreams they could not have hoped for better conditions, even from the servile "N.L.C."
Under my government there was strict control of the operations of all foreign firms in Ghana. We were constantly vigilant to see that there was no exploitation of the Ghanaian people, and that most of the profits were retained inside Ghana to be used to promote further economic and social development.
In Ghana today it is as though the clock suddenly stopped on 24th February 1966, and the hands have been turned backwards. Unfinished factory buildings remain in precisely the same condition as when the builders left them after work on 23rd February 1966. The machines of other factories said to be prestige projects or closed because of the departure of foreign technicians, lie idle while thousands of Ghanaian unemployed fill the streets. Work on new schools. Hospitals, roads and airport buildings has stopped with the new regime making the excuse that the country is too poor to pay for them.
The cars and property of Party officials have been sold; where the money has gone, only the "N.L.C." can tell.
My personal Research Office, where documents of all kinds were being filed, and valuable records were being built up, was ransacked, and the painstaking work of many years destroyed. Many thousands of books in my library were senselessly torn up or burnt.
United Ghana 8 years ago
For me, it's so painful to know what we lost as a result of the overthrow of Nkrumah, especially when I look at the leadership we've had since. No wonder subsequent generations were never taught about life & works.
For me, it's so painful to know what we lost as a result of the overthrow of Nkrumah, especially when I look at the leadership we've had since. No wonder subsequent generations were never taught about life & works.
G. K. Berko 8 years ago
Bro. Kwarteng, I can't wait to read those. I hope Phillip Baidoo would do the same and help us all give the best out of ourselves to compete in producing the most effective paradigm for Ghana's success.
Our sharing of ide ... read full comment
Bro. Kwarteng, I can't wait to read those. I hope Phillip Baidoo would do the same and help us all give the best out of ourselves to compete in producing the most effective paradigm for Ghana's success.
Our sharing of ideas would have to retain the competitive intellectual exposition but shed the inimical destructive hell-wind superiority complexes we have been caught up in for a long while.
Ghana must be proud of the scholastic prowess of her children, having started off so late in our pursuit of global knowledge. The likes of Kwarteng, Baidoo, Dr. SAS, and even Professor Kwame Okoampa-Ahoofe, Jr., who many of us may have little personal regard for because of his vitriolic, acidic temperament he sometimes employs to corrode the dignity of others, are all, in fact, treasured Human Capital we must be grateful to the Omnipotent for.
If only we could healthily tap into the talents and knowledge of these and many others not mentioned here, and drop the invidious, insipid, sometimes vulgar exchanges, we would be on a firm ground to salvage the Nation and keep her on track to ever-growing success.
I would take this opportunity to appeal to all to bury our animosities and resume our quest for the best paradigms to build our country on. Even as we engage in Politics to appropriate representation of our masses to a few among us, we could still keep a sacred chamber of love to accommodate the views of others in.
When I first suggested, a couple of years back, that we may have to resolve to take the best of Busia's, Danquah's and Nkrumah's ideas to build on, some thought I was simply courting some form of Union Government. That invoked in some folks the bitter sentiments of the accursed defunct 'UNIGOV' of Kutu's era.
However, I meant that we departed from the old animosities that fueled blind hatred among our contemporary Ghanaian Social and Political contestants. I meant that we only referred to the errors of our past leaders for correction and maintenance of better guided policies that helped us all, and not for the purpose of recrimination and mutual disparaging. I hope to see the day a bold and honest Regime would emerge in Ghana to honor all of these past Political Leaders fairly for their contributions, and not destroy their monuments or replace them with those of their contemporary opponents.
So, let us encourage Kwarteng to offer his constructive opinions. Let us encourage Baidoo to see beyond the platitudinous conflict of Socialism versus Capitalism per se. Let us encourage Dr. SAS to shed any lingering hatred of Nkrumah that is, possibly, leading him to believe everything the man ever stood for was evil. Let us encourage even Okoampa-Ahoofe, Jr. and Samia to understand that whatever wrong their family forbears, Danquah and Nkrumah, respectively did to one another is not beyond forgiveness, and need not be extrapolated into their lives, and our lives, today, to stifle any possibility of reconciliation and consensus building for Ghana's and our posterity's sake.
Long Live Ghana!!!
francis kwarteng 8 years ago
Dear Brother Berko,
God day.
Yes, I shall definitely continue with the series.
I believe you make a strong case that we all have to learn from the "mixed economy" model and other such related topics.
I cherish y ... read full comment
Dear Brother Berko,
God day.
Yes, I shall definitely continue with the series.
I believe you make a strong case that we all have to learn from the "mixed economy" model and other such related topics.
I cherish your fair-mined critique of my articles.
Thanks.
francis kwarteng 8 years ago
Marcus,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may want to go ba ... read full comment
Marcus,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may want to go back and read "Nkrumah Did Not Force His Views On African Leaders 8" and "What Ghanaians Can Learn from Pope Francis 3." I hope you read this two.
Thus there is no need for me to cover that familiar terrain, particularly in this essay. That said, a staunch reader brought this particular article and the others to follow to my attention. He/she wants me to share them with readers.
I want you to see beyond those labels by the time the series is over. I am way past debating those who cannot think deeply about issues beyond the level of high-school. This series is none of that.
Next time I may want to debate an individual who is widely read, well informed, intellectually mature, knowledgeable, and is conversant with leading political-economic theories and what actually works in the real world. Thus I encourage you to see this series beyond what the labels mean.
Thanks.
MARCUS AMPADU 8 years ago
I am happy you read the Age of Sustainable Development, which undoubtedly is the central challenge of this present age, which makes the back&forth between capitalist & socialist ideological tug of war redundant for our neck o ... read full comment
I am happy you read the Age of Sustainable Development, which undoubtedly is the central challenge of this present age, which makes the back&forth between capitalist & socialist ideological tug of war redundant for our neck of the woods.
Mr. Kwarteng you will agree with me that the world is facing unparalleled strain and we should do everything humanly possible to find solutions to these challenges. Expect my contribution to this important conversation.
francis kwarteng 8 years ago
Dear Marcus,
One of the essays in the series shall be discussing the climate, poverty reduction, health, education, price mechanism, education, and myriad related topics.
Thanks.
Dear Marcus,
One of the essays in the series shall be discussing the climate, poverty reduction, health, education, price mechanism, education, and myriad related topics.
Thanks.
Prof Lungu 8 years ago
Looking forward to reading that one!
Peace!
Looking forward to reading that one!
Peace!
Mahmoud 8 years ago
Foreign Relations of the United States, 1964–1968
Volume XXIV, Africa, Document 244
________________________________________
244. Telegram From the Embassy in Ghana to the Department of State1
Accra, March 2, 1964, 5 p. ... read full comment
Foreign Relations of the United States, 1964–1968
Volume XXIV, Africa, Document 244
________________________________________
244. Telegram From the Embassy in Ghana to the Department of State1
Accra, March 2, 1964, 5 p.m.
717. Talked nearly hour with Nkrumah this morning, opening with presentation along lines my instructions.2 I stated I had two conversations with President Johnson, was speaking on his behalf. President and other top officials regard relations between USG and GOG as in grave condition. Nkrumah interrupted to say he also regarded situation as serious. I said American Government and people tending believe GOG does not wish maintain even tolerable relations with US and point to accusations of rumor-mongering, demonstrations, deportation American professors.
With respect rumor-mongering, I said everyone in Ghana had heard rumors. Ironically, I had cautioned staff on two occasions re repeating them and had expressed doubt their truthfulness. Nkrumah said he appreciated this. Mentioned he was particularly upset about rumors now going around re his perfectly healthy baby, that it “half animal, half human.” I said every figure in public life subjected to rumor, though these latter below contempt. I was sure American community discreet.
Re demonstration, I said it clearly government-inspired. CPP were acting officially and workers brigade of course directly under GOG. Nkrumah tried to excuse CPP action as “independent enthusiasm,” but said now that Ghana has one-party system CPP is same as government. He conceded there no excuse for workers brigade. I pointed out he might as well have had police demonstrating. He did not dissent, said there were two Cabinet members present but they just curiosity seekers.
Re deportations, I said GOG had right dismiss anyone it chose. We not trying to tell GOG what to do. But manner in which GOG acted was unfriendly. I had checked background of men in Washington and none had ever been even remotely connected with USG intelligence.
I then described feeling of American Congress and people, pointed out President subject to public opinion. If situation continued, we could not continue what we were doing here. Nkrumah agreed that something must be done. He referred to editorial in Los Angeles paper which he said “recommended assassination.” I deplored editorial but said we had free press, and that hostile feeling of press was consequence of Ghanaian press and Ghanaian activity. Nkrumah agreed that nothing could be done about US press and that it would improve when Ghanaian attitudes improved. He asked me whether I had noticed Ghanaian press on my return. I said I had; it was better. He claimed it would take time but would change even more, said he had issued instructions against any broad attacks. I made point that merely shifting attacks UK and Free World was unsatisfactory. He argued that he cannot renounce his principles, must oppose South Africa and UK action in southern Rhodesia. But said from now on attacks will be specific and he will maintain greater control. He said by way of example he was meeting with press immediately after our conversation and would tell them to stop using “Hitler” and “Nazi”; will call Verwoerd’s performance a form of fascism.
I stressed view Ghanaian press is Soviet-Bloc enterprise. Bloc almost never criticized. We not seeking such criticism but Bloc must make mistake on some occasion. I gave African student incident in Moscow as example, saying that although it was front page news all over world it suppressed here. Nkrumah became riled at this point (for only time during discussion), though he had nothing to say in rebuttal. He commented that he was planning to maintain closer control over students in Soviet Bloc countries and described mission he has sent to set up CPP branch parties among students in Bloc. Emphasized this will give him control. Said when he first proposed doing this, Soviets strongly objected but he threatened pull students out and Soviets finally agreed. (Note: CPP official setting up branches is notorious pro-Communist Kweku Akwei.)
Nkrumah digressed to discuss his growing concern at extent corruption in Ghanaian public life. Gave example of man he now trying to catch up with who had substantial sum of money deposited abroad. Said European—but not UK or US—firms made practice of signing contracts for Ghana pounds 3 when worth only Ghana pounds 1, paying off GOG officials. He said he announcing seven-year plan soon and will make policy statement against corruption.
I then told Nkrumah I would like to take up question of CIA. He said he was glad I brought up matter; he had mentioned CIA in letter sent via Ribeiro to President Johnson. I told him I had discussed possibility of letter with President Johnson and that latter would welcome it. I said [less than 1 line of source text not declassified] that I am in full control of all US Government activities in Ghana. I could assure him without hesitation that during my incumbency absolutely nothing has been done by any US agency which could be construed in any way as being directed against him or his government. Nkrumah replied with words to effect “I will take your word for it,” [11–1/2 lines of source text not declassified].
I repeated that there had been no conceivable activity on our part to subvert or overthrow him. I pointed out how inconsistent our entire aid effort, aimed at assisting and strengthening his government, is with wild accusations in Ghanaian press that US acting against him. I added that, speaking frankly, our main intelligence effort is to keep an eye on his Soviet and Chinese friends, whose activities are really large scale. I added that it was common over world that good part of so-called Soviet diplomatic personnel were actually intelligence agents. Nkrumah replied he understood this to be so and keeps eye on them himself.
Nkrumah brought up matter of his “socialism.” Saying that Western press always jumps down his throat when he mentions socialism. He claimed that he was not talking about Soviet or Chinese forms of socialism, but about Ghana’s own type of socialism developed from Ghana’s communal traditions. His socialism is evolutionary, not revolutionary, and specifically provides for private sector and foreign investment.
I commented that just as he resented attacks on his socialism, we resent his press’s uniform condemnation of capitalism, which has changed radically in recent decades. Nkrumah replied that he understood changed nature of capitalism, and said that present economic system of US might better be termed “enlightened capitalism.”
Nkrumah agreed with me that we had not talked enough. I said that although I did not wish to burden him, we should get together at regular intervals, so that we could be in touch and be in position to iron out difficulties before they are acute and led to public embarrassment. I suggested semi-monthly meetings and urged him to call me on any occasion. Nkrumah agreed with alacrity to idea of regular meetings, even throwing out idea that we might meet weekly. I told him that we ought try semi-monthly meetings at first and see how they worked out. We left it that I would telephone his secretary twice each month for specific time.
In course of conversation, Nkrumah mentioned that he planned to move back to Flagstaff House soon.
Speaking of Chou En-lai visit, he volunteered that joint communique had caused him great difficulty, and that Soviet had “come down hard” on him for it. He said that now he is having trouble with his friend Tito and that it seems impossible to please everyone.
As I took my leave I repeated that I must say in all candor that President Johnson and my government regard relations between our countries as grave. I had not given up; I had come back to make honest effort to improve relations. Nkrumah agreed that we should make every effort.
As we parted he gave me copy of his letter to President Johnson (dated Feb 26; telegraphed separately)3 and bottle of rum and bitters which he had received from Prime Minister Williams of Trinidad.
Comment:
1. Nkrumah was as friendly as I have ever seen him. Only new element was tendency speak very rapidly, making him at times hard to understand. He seemed extremely anxious to please. It was evident from conversation that he realizes some eating of crow necessary. He in fact did so to some extent.
2. He is aware of and concerned by serious state of our relations, although he seems to feel an upward turn has already begun.
3. He has made and will probably continue to make efforts to moderate his press. Although I have no illusions that Nkrumah has basically changed, I believe that likelihood of a period of tolerable peace, of unknown duration, has been strengthened by our conversation.
4. Our personal relationship has been warmed and an opportunity created for more helpful talks.
5. Beginning has been made in effort to dispel some of Nkrumah’s misconstructions on role of CIA. Will follow-up.
6. Pressure should be kept up. Washington could contribute by parallel talk with Ribeiro.
Mahoney
MARCUSAMPADU 8 years ago
Mahmoud time hasn't stood still. While you dozed it moved on. The bipolar world of US vs. USSR gave way to a multipolar world of over 200 nations.
Ghana is one of them, with a plethora of challenges. Your incessant attac ... read full comment
Mahmoud time hasn't stood still. While you dozed it moved on. The bipolar world of US vs. USSR gave way to a multipolar world of over 200 nations.
Ghana is one of them, with a plethora of challenges. Your incessant attacks on communism have become redundant, I'm afraid.
francis kwarteng 8 years ago
Dear Marcus,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may want to ... read full comment
Dear Marcus,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may want to go back and read "Nkrumah Did Not Force His Views On African Leaders 8" and "What Ghanaians Can Learn from Pope Francis 3." I hope you read this two.
Thus there is no need for me to cover that familiar terrain, particularly in this essay. That said, a staunch reader brought this particular article and the others to follow to my attention. He/she wants me to share them with readers.
I want you to see beyond those labels by the time the series is over. I am way past debating those who cannot think deeply about issues beyond the level of high-school. This series is none of that.
Next time I may want to debate an individual who is widely read, well informed, intellectually mature, knowledgeable, and is conversant with leading political-economic theories and what actually works in the real world (someone who has read beyond the relevant texts and papers we all studied in high school. I will not dedicate my precious time to any "debater" steeped in intellectual childishness from now on).
Thus I encourage you to see this series beyond what the labels mean.
Thanks.
Dr Kwesi Atta Sakyi 8 years ago
Mixed economy is the best form of economic system and that was what catapulted the Asian Tigers. We need to go that way or else we perish because free economy is a phantom phenomenon which leads to disaster and self-destructi ... read full comment
Mixed economy is the best form of economic system and that was what catapulted the Asian Tigers. We need to go that way or else we perish because free economy is a phantom phenomenon which leads to disaster and self-destruction as a nation.
Prof Lungu 8 years ago
We agree!
Explains why capitalist US will not any time soon be selling the TVA/Hoover Dam.
Why even today many power production authorities are either owned by cities, states, or cooperatives!
Imagine, there are coo ... read full comment
We agree!
Explains why capitalist US will not any time soon be selling the TVA/Hoover Dam.
Why even today many power production authorities are either owned by cities, states, or cooperatives!
Imagine, there are cooperatives in the US!
As Prof. Lumumba said the other day, Dr. Kwame Nkrumah had it just right!
Then, imagine a country selling all its heritage Film Collections to solitary individuals, for pesewas!
Deal with it!
Greetings!
YAW 8 years ago
The Global Trap summed it up beautifully.
The Asian boom has little to do with the laissez-faire capitalism of most OECD countries. Without exception,the rising economies of the Far East adopted a strategy which is effect ... read full comment
The Global Trap summed it up beautifully.
The Asian boom has little to do with the laissez-faire capitalism of most OECD countries. Without exception,the rising economies of the Far East adopted a strategy which is effectively scorned in the West.namely massive state-intervention at every level of economic activity. Instead of letting themselves be led like lambs to slaughter of international competition, as Mexico did once again,the dragons of state-managed construction from Jakarta to Beijing have developed a wide range of instruments with which to keep control of development.For them,integration into the world market is not the end but only a means that they use cautiously and after careful consideration.
YAW 8 years ago
Dinner With Businessmen
Flag stuff House, February 22, 1963
I am happy to welcome you here this evening. They say, I believe, that if you have something important to say, don’t risk losing it in the digestive tra ... read full comment
Dinner With Businessmen
Flag stuff House, February 22, 1963
I am happy to welcome you here this evening. They say, I believe, that if you have something important to say, don’t risk losing it in the digestive tracts of a hungry man. Now that you seem to me to be carefree and relaxed and in a mood of conviviality, “you’ll have no scandal while we dine, but honest talk and wholesome wine."
Gentlemen, you are the representatives of industry and commerce, and constitute a vital part in the economic life of Ghana. I would like to take advantage of your presence here tonight to have a good look at our common problems.
As you know, we have had some problems in our foreign trade and balance of payments. The unsatisfactory state of world markets for cocoa and for some of our other major products made it necessary for us to tighten our belts. For those of you in the business community, your contribution to this effort has consisted mostly of having to keep within regulated limits, the amounts which you could transfer abroad or pay out in dividends. In addition, we look for steps to reduce our imports on goods in order to prevent the balance of payment crisis.
We know that the reduction in imports has in some way affected your business, but I can assure you that the decision was taken in the interest of the nation, and especially of the national economy of which you form a part.
We know at the time that the measures we took would impose some restriction on all of us. Even those of us in the Government have felt the stress and strain of the limitations which the world financial situation imposed on our activities, but in spite of this, we must recognise the fact that these limitations were necessary in order to protect the strength and stability of our economy.
I am happy to say that as a result of the sacrifices made by the people of Ghana, by the Government and by you, the members of the business community, the financial situation has now stabilised. There has been a radical improvement in our balance of international trade, and the country’s reserves have shown a healthy recovery. But this does not mean that the time has come for us to relax. Our economic position needs to be still further improved, particularly in the new period of development which we are about to enter with our Seven-Year Plan.
In the past year or so, while we have adopted these vigorous measures to protect Ghana’s economy, we have had to experiment with a number of devices in order to achieve our aim. I am fully aware of the difficulties which some of us have encountered owing to the changes that have to be made from time to time. I would like to say, however, that the Government of Ghana stands by the principles which I enumerated at the last Budget with regard to investment, and which I repeat here:
"The Government will continue to encourage private investors to establish and operate in Ghana. Our Government has no plans whatsoever to take over industries in the private sector; it is neither its wish to do so nor its aim or policy. When private investors enter into fields where state enterprises operate, they will compete on absolutely equal terms without discrimination”
Gentlemen, we must be frank and honest about our intentions and motives. There should be no secret doubts in the relations between us. We can only co-exist on the basis of absolute frankness. We, on our part, welcome every honest investor who wants to work for his equitable profits, but we shall not tolerate anyone who seeks to direct what political course we should follow. Any Government, or, for that matter, any organisation which invests in, or gives a loan or assistance to, another country like our own must on no account interfere directly or indirectly in the internal or external affairs of that country. If any attempt is made on the strength of such credit, loan, aid or assistance to interfere in the political, social, economic, cultural and military affairs of our country, then we shall consider that the motives under lying such activities and operations have a neo-colonialist character.
Perhaps between the theory and practice, there may have been some mistakes made in the application of the rules and regulations. I wish to say, therefore, that if any such mistakes have been made, they have been made in good faith and with the best of intentions.
In order that such mistakes may not be repeated, I have instructed that the rules and regulations should now be put on a firm and clear cut basis. You all know what is required of you, and I am confident that you will accept these in fairness and good spirit, and thereby contribute to the economic growth of Ghana. I am happy to say that an Investment Bill is nearing completion and is expected to be introduced shortly into Parliament. This Bill, when it becomes law, will provide legal backing to Government’s policy with regard to investment and also, at the same time, define the nature of concessions which the Government proposes to make to investors.
Gentlemen, perhaps it will be a good thing for me at this juncture to say something about our hopes for the future. We are in the process of establishing a society in which men and women will have no anxiety about work, food and shelter; where poverty and illiteracy no longer exist and-where disease is brought under control; where our educational facilities provide our children with the best possible opportunities for learning; where every person uses his talents to their fullest capacity and contributes to the general well-being of the nation.
In order to attain these objectives, we have accepted the socialist pattern of society, believing that at a certain level of economic growth of a less-developed country such as Ghana, State enterprise can co—exist with private business interests, provided certain rules are observed on both sides.
I have stated elsewhere that:
"There are circumstances in which the import of foreign capital is of benefit to the importing country, especially in the case of the emerging developing country where large-scale sources of capital accumulation is small and not so easy to mobilise. Foreign capital is thus useful and helpful if it takes the form of a loan or a credit to enable the borrowing country to buy what it needs from whatever sources it likes, and at the same time to retain the control of the assets to be developed?
"One of the worst things that can happen to less-developed and emerging countries is to receive foreign aid with political and economic strings attached.
“These aids are very often wrapped up in financial terms that are not easily discernible.
"Foreign investment made in an emerging and developing country by a foreign company in order that such company can make a profit, has nothing to do with aid. This does not mean that a developing country may not find it advantageous to make a contract with a foreign company for the setting up of, say, a factory or an industry."
"Real aid is something quite different. It consists of direct gifts or loans that are given on favourable terms and without strings attached."
"The problem therefore is how to obtain capital investment and still keep it under sufficient control to prevent undue exploitation and how to preserve integrity and sovereignty without crippling economic or political ties to any country, block or system. In other words, can state enterprise and private enterprise co-exist in a less-developed country? I say yes, provided they both conform to the general framework of the overall plan made by the State."
As I have said earlier, our ideas of socialism can co-exist with private enterprise. I also believe that private capital and private investment capital, in particular, has a recognised and legitimate part to play in Ghana’s economic development. We are consistent in these ideas. I have never made any secrets of my faith in socialist principles, but I have always tried to make it quite clear that Ghana’s socialism is not incompatible with the existence and growth of a vigorous private sector in the economy.
Gentlemen, I need hardly say that Ghana expects you — indeed, Ghana invites you — businessmen, industrialists, bankers, manufactures and investors, to play a significant role in this economic growth and development.
Let me end by saying — and I say this with emphasis and sincerity that those of you who will be investing in Ghana will be investing in a very stable country; a country united; a country determined to make progress; a country determined to industrialise; a country determined to mechanise and diversify its agriculture; a country dynamic and honest in its intentions and consistent in its policies.
Look around the country for yourselves. Invite your business friends to come here and see with their own eyes the happy atmosphere pervading everything we do; the stability we rightly boast of; the buoyancy of our economy and the happy relationships existing among all races who live here. There can be no better assurance to investors than these. Tell them not to be taken in by the mischief of a section of the press in Europe and America.
And now, Gentlemen, let us stand and drink a toast to the progress and prosperity of trade and industry in Ghana.
Dinner With Businessmen
Flag stuff House, February 22, 1963
I am happy to welcome you here this evening. They say, I believe, that if you have something important to say, don’t risk losing it in the digestive tracts of a hungry man. Now that you seem to me to be carefree and relaxed and in a mood of conviviality, “you’ll have no scandal while we dine, but honest talk and wholesome wine."
Gentlemen, you are the representatives of industry and commerce, and constitute a vital part in the economic life of Ghana. I would like to take advantage of your presence here tonight to have a good look at our common problems.
As you know, we have had some problems in our foreign trade and balance of payments. The unsatisfactory state of world markets for cocoa and for some of our other major products made it necessary for us to tighten our belts. For those of you in the business community, your contribution to this effort has consisted mostly of having to keep within regulated limits, the amounts which you could transfer abroad or pay out in dividends. In addition, we look for steps to reduce our imports on goods in order to prevent the balance of payment crisis.
We know that the reduction in imports has in some way affected your business, but I can assure you that the decision was taken in the interest of the nation, and especially of the national economy of which you form a part.
We know at the time that the measures we took would impose some restriction on all of us. Even those of us in the Government have felt the stress and strain of the limitations which the world financial situation imposed on our activities, but in spite of this, we must recognise the fact that these limitations were necessary in order to protect the strength and stability of our economy.
I am happy to say that as a result of the sacrifices made by the people of Ghana, by the Government and by you, the members of the business community, the financial situation has now stabilised. There has been a radical improvement in our balance of international trade, and the country’s reserves have shown a healthy recovery. But this does not mean that the time has come for us to relax. Our economic position needs to be still further improved, particularly in the new period of development which we are about to enter with our Seven-Year Plan.
In the past year or so, while we have adopted these vigorous measures to protect Ghana’s economy, we have had to experiment with a number of devices in order to achieve our aim. I am fully aware of the difficulties which some of us have encountered owing to the changes that have to be made from time to time. I would like to say, however, that the Government of Ghana stands by the principles which I enumerated at the last Budget with regard to investment, and which I repeat here:
"The Government will continue to encourage private investors to establish and operate in Ghana. Our Government has no plans whatsoever to take over industries in the private sector; it is neither its wish to do so nor its aim or policy. When private investors enter into fields where state enterprises operate, they will compete on absolutely equal terms without discrimination”
Gentlemen, we must be frank and honest about our intentions and motives. There should be no secret doubts in the relations between us. We can only co-exist on the basis of absolute frankness. We, on our part, welcome every honest investor who wants to work for his equitable profits, but we shall not tolerate anyone who seeks to direct what political course we should follow. Any Government, or, for that matter, any organisation which invests in, or gives a loan or assistance to, another country like our own must on no account interfere directly or indirectly in the internal or external affairs of that country. If any attempt is made on the strength of such credit, loan, aid or assistance to interfere in the political, social, economic, cultural and military affairs of our country, then we shall consider that the motives under lying such activities and operations have a neo-colonialist character.
Perhaps between the theory and practice, there may have been some mistakes made in the application of the rules and regulations. I wish to say, therefore, that if any such mistakes have been made, they have been made in good faith and with the best of intentions.
In order that such mistakes may not be repeated, I have instructed that the rules and regulations should now be put on a firm and clear cut basis. You all know what is required of you, and I am confident that you will accept these in fairness and good spirit, and thereby contribute to the economic growth of Ghana. I am happy to say that an Investment Bill is nearing completion and is expected to be introduced shortly into Parliament. This Bill, when it becomes law, will provide legal backing to Government’s policy with regard to investment and also, at the same time, define the nature of concessions which the Government proposes to make to investors.
Gentlemen, perhaps it will be a good thing for me at this juncture to say something about our hopes for the future. We are in the process of establishing a society in which men and women will have no anxiety about work, food and shelter; where poverty and illiteracy no longer exist and-where disease is brought under control; where our educational facilities provide our children with the best possible opportunities for learning; where every person uses his talents to their fullest capacity and contributes to the general well-being of the nation.
In order to attain these objectives, we have accepted the socialist pattern of society, believing that at a certain level of economic growth of a less-developed country such as Ghana, State enterprise can co—exist with private business interests, provided certain rules are observed on both sides.
I have stated elsewhere that:
"There are circumstances in which the import of foreign capital is of benefit to the importing country, especially in the case of the emerging developing country where large-scale sources of capital accumulation is small and not so easy to mobilise. Foreign capital is thus useful and helpful if it takes the form of a loan or a credit to enable the borrowing country to buy what it needs from whatever sources it likes, and at the same time to retain the control of the assets to be developed?
"One of the worst things that can happen to less-developed and emerging countries is to receive foreign aid with political and economic strings attached.
“These aids are very often wrapped up in financial terms that are not easily discernible.
"Foreign investment made in an emerging and developing country by a foreign company in order that such company can make a profit, has nothing to do with aid. This does not mean that a developing country may not find it advantageous to make a contract with a foreign company for the setting up of, say, a factory or an industry."
"Real aid is something quite different. It consists of direct gifts or loans that are given on favourable terms and without strings attached."
"The problem therefore is how to obtain capital investment and still keep it under sufficient control to prevent undue exploitation and how to preserve integrity and sovereignty without crippling economic or political ties to any country, block or system. In other words, can state enterprise and private enterprise co-exist in a less-developed country? I say yes, provided they both conform to the general framework of the overall plan made by the State."
As I have said earlier, our ideas of socialism can co-exist with private enterprise. I also believe that private capital and private investment capital, in particular, has a recognised and legitimate part to play in Ghana’s economic development. We are consistent in these ideas. I have never made any secrets of my faith in socialist principles, but I have always tried to make it quite clear that Ghana’s socialism is not incompatible with the existence and growth of a vigorous private sector in the economy.
Gentlemen, I need hardly say that Ghana expects you — indeed, Ghana invites you — businessmen, industrialists, bankers, manufactures and investors, to play a significant role in this economic growth and development.
Let me end by saying — and I say this with emphasis and sincerity that those of you who will be investing in Ghana will be investing in a very stable country; a country united; a country determined to make progress; a country determined to industrialise; a country determined to mechanise and diversify its agriculture; a country dynamic and honest in its intentions and consistent in its policies.
Look around the country for yourselves. Invite your business friends to come here and see with their own eyes the happy atmosphere pervading everything we do; the stability we rightly boast of; the buoyancy of our economy and the happy relationships existing among all races who live here. There can be no better assurance to investors than these. Tell them not to be taken in by the mischief of a section of the press in Europe and America.
And now, Gentlemen, let us stand and drink a toast to the progress and prosperity of trade and industry in Ghana.
United Ghana 8 years ago
One for my records. Cheers
One for my records. Cheers
Prof Lungu 8 years ago
RE=REWAD: "...As I have said earlier, our ideas of socialism can co-exist with private enterprise. I also believe that private capital and private investment capital, in particular, has a recognised and legitimate part to pla ... read full comment
RE=REWAD: "...As I have said earlier, our ideas of socialism can co-exist with private enterprise. I also believe that private capital and private investment capital, in particular, has a recognised and legitimate part to play in Ghana’s economic development. We are consistent in these ideas. I have never made any secrets of my faith in socialist principles, but I have always tried to make it quite clear that Ghana’s socialism is not incompatible with the existence and growth of a vigorous private sector in the economy..."
WE SAY: 'Nuff said - explicit and implied!
Greetings!
G. K. Berko 8 years ago
I fully agree that a mixed Economy would be our best economic paradigm forward, and we must not shy away from it.
Yes, the Asian Tigers employed that system to advance. Even Singapore manifested much of a mixed economy to ... read full comment
I fully agree that a mixed Economy would be our best economic paradigm forward, and we must not shy away from it.
Yes, the Asian Tigers employed that system to advance. Even Singapore manifested much of a mixed economy to roll into the dazzling sunlight--something many of our Economists long chose to be silent on for the convenience of portraying Nkrumah's governance as totally detrimental, and responsible for Ghana's protracted underdevelopment.
Often such Economists would refer to Nkrumah's dictatorial attributes as being wholly causal to our economic woes. So, when I heard Lee Kuan Yew concede publicly and for global awareness that he considered his dictatorial tendencies crucial for the success of his Development Plans for Singapore, I was blown away, and felt betrayed by own Economists.
Meanwhile, after Nkrumah's exit, it had largely been series of expert counseling from these Economists that our Governments adopted but still failed to significantly move us past the present predicament. These Economists would only have us fully dissociated from any semblance of mixed Economy, and foisted upon unmodified apparel of Western Capitalism at its purest form, even as they refuse to recognize that we lacked the necessary supporting institutional strengths to make it work.
We have, since then, had a Capitalist system where the rules governing it are, at best, applied sparingly to the convenience of a favored clique.
No wonder President Obama suggested to us on his visit to the country that we ought strengthen our Institutions. We have been vacillating between Fascism and Oligarchy, throwing our precious resources at the feet of foreign cronies and favored clients, and maintaining a shadowy aristocratic imposition on the majority poor.
Long Live Ghana!!!
Dr Kwesi Atta Sakyi 8 years ago
Capitalism does not work because it is mean and anti-social as it lacks a human face. It is all about, ' Money, money, money, money, Gimme, Gimme, Gimme, it's a rich man's world", according to Abba. It is a continuation of th ... read full comment
Capitalism does not work because it is mean and anti-social as it lacks a human face. It is all about, ' Money, money, money, money, Gimme, Gimme, Gimme, it's a rich man's world", according to Abba. It is a continuation of the ignominous feudal-slave trade-colonialist apparatus. A variant of capitalism which the Chinese have used to beat the originators of the concept themselves is state capitalism, which borders on the ideas of Keynesianism and state intervention. How many economic bubbles do we need before we see the light?
Kwame 8 years ago
Francis Kwarteng there is no communist country in the world today, just as Christians have not brought haven to Earth, so the communists said that communism is an economic system that will be practiced all over the world when ... read full comment
Francis Kwarteng there is no communist country in the world today, just as Christians have not brought haven to Earth, so the communists said that communism is an economic system that will be practiced all over the world when it finally arrives.
We wrote the other time Fracis Kwateng that the North European nations you stated are practicing a mixed economy were parts and parcel of the world imperialist system. They got rich through various covert and overt means that we stated the other time, including the slave and drug trade. That economic system is not good for a country like Ghana which has not accumulated money through those means we stated and can not do that because she does not have the means to do so.
The only socioeconomic system that can enable Africans to uplift themselves from poverty is socialism. We stated that though India is call the biggest democracy in the world the most waste form of human abuse and the cast system that China eliminated long ago still remain there. We also compared China to India and Cuba to Jamaica for you to see what socioeconomic system is better in this stage of human development.
It is a fact that whiles the socialist states provide their population with the second most basic thing that a person need, water the U.S. government's investment in the banking system and the profits from it has not given free water to the citizens of the U.S. Whiles U.S. citizens pay for health, education and water socialist countries that practice state capitalism provide those basic needs of human to their citizens. When it comes to recreation citizens of socialist countries are given the same attention accorded to presidents and ministers. The majority of U.S. and North European citizens have not in their life ever spend a day at a health resort at the expense of the state, it is only the rich who have access to them.
G. K. Berko 8 years ago
Kwame, I agree. Countries may retain the name 'Communist' today only to make a point that they were not cowered by the West to capitulate. But in reality, they have been functioning on mixed principles of Capitalism and Socia ... read full comment
Kwame, I agree. Countries may retain the name 'Communist' today only to make a point that they were not cowered by the West to capitulate. But in reality, they have been functioning on mixed principles of Capitalism and Socialism.
This is time we ought to be least attached to the labels.
Long Live Ghana!!!
Kwame 8 years ago
G.K. Berko socialism is not the same as communism. As imperialism is the highest stage of capitalism, thus communism is the highest state of socialism. We stated many times that socialism comprise of three elements, state cap ... read full comment
G.K. Berko socialism is not the same as communism. As imperialism is the highest stage of capitalism, thus communism is the highest state of socialism. We stated many times that socialism comprise of three elements, state capitalism, cooperative ownership and prate ownership, which also implies to all aspects of the economy. A cooperative or an individual can make some parts for a state automobile factory so long as he or she does not use labour that contravene the policy of none-exploitation of labour.
REVISED FROM THE OTHER SIDE:
THIS IS A TOTAL TAKE-DOWN OF THE FAUX REPUBLICAN-LIBERTARIAN (AND HYPOCRITICAL MCCASKILL) & OTHER ABSENT-MINDED "DEMOCRATS":
Imagine - trillions of dollars from government to businesses: sam ...
read full comment
A senseless article copied and pasted by the insane Francis kwarteng and being dabated by lunatics. Let us wait for some few other idiots like C.Y. Andy-K and Kojo T(amakloe) aka dirty Ewes etc. to join and then it becomes pe ...
read full comment
The crux of the article & your comment is hypocrisy. I couldn't agree more. Yet, these hypocrites accuse Nkrumah of being a socialist & condemn his belief in state enterprises. Socialism has saved capitalism. Ironic indeed.
Francis I'm afraid this back&forth between capitalism & socialism is passe, woefully so in our country & in Africa.
Kindly read Jeffrey D. Sach's The Age of Sustainable Development, if you haven't already. Should be a rec ...
read full comment
Dear Marcus Ampadu,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may w ...
read full comment
Mr. Kwarten, communism surely doesn't work in the real world. But unfortunate thing is that Kwame Nkrumah met a mixed economy in Ghana and did everything to drag us into the communist block and implement it whole heartedly in ...
read full comment
Mahmoud, you're ill-informed. Did Nkrumah nationalise industries or create state industries? We're private individuals precluded from engaging in business by Nkrumah? Didn't he take GH into the non-aligned movement? There's i ...
read full comment
CORRECTION: we're should read were. Sorry
A bit of a lesson from Nkrumah"s grave.
Excerpts of Nkrumah’s Lamentations are published below;
Apart from handing over public corporations to private enterprise. The, "N.L.C." announced drastic cuts in the routes ope ...
read full comment
For me, it's so painful to know what we lost as a result of the overthrow of Nkrumah, especially when I look at the leadership we've had since. No wonder subsequent generations were never taught about life & works.
Bro. Kwarteng, I can't wait to read those. I hope Phillip Baidoo would do the same and help us all give the best out of ourselves to compete in producing the most effective paradigm for Ghana's success.
Our sharing of ide ...
read full comment
Dear Brother Berko,
God day.
Yes, I shall definitely continue with the series.
I believe you make a strong case that we all have to learn from the "mixed economy" model and other such related topics.
I cherish y ...
read full comment
Marcus,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may want to go ba ...
read full comment
I am happy you read the Age of Sustainable Development, which undoubtedly is the central challenge of this present age, which makes the back&forth between capitalist & socialist ideological tug of war redundant for our neck o ...
read full comment
Dear Marcus,
One of the essays in the series shall be discussing the climate, poverty reduction, health, education, price mechanism, education, and myriad related topics.
Thanks.
Looking forward to reading that one!
Peace!
Foreign Relations of the United States, 1964–1968
Volume XXIV, Africa, Document 244
________________________________________
244. Telegram From the Embassy in Ghana to the Department of State1
Accra, March 2, 1964, 5 p. ...
read full comment
Mahmoud time hasn't stood still. While you dozed it moved on. The bipolar world of US vs. USSR gave way to a multipolar world of over 200 nations.
Ghana is one of them, with a plethora of challenges. Your incessant attac ...
read full comment
Dear Marcus,
Yes, I have read Sachs (and his work with the United Nations and what goes on at The Earth Institute, Columbia University).
I have already discussed Jeffrey Sachs in a couple of my essays. You may want to ...
read full comment
Mixed economy is the best form of economic system and that was what catapulted the Asian Tigers. We need to go that way or else we perish because free economy is a phantom phenomenon which leads to disaster and self-destructi ...
read full comment
We agree!
Explains why capitalist US will not any time soon be selling the TVA/Hoover Dam.
Why even today many power production authorities are either owned by cities, states, or cooperatives!
Imagine, there are coo ...
read full comment
The Global Trap summed it up beautifully.
The Asian boom has little to do with the laissez-faire capitalism of most OECD countries. Without exception,the rising economies of the Far East adopted a strategy which is effect ...
read full comment
Dinner With Businessmen
Flag stuff House, February 22, 1963
I am happy to welcome you here this evening. They say, I believe, that if you have something important to say, don’t risk losing it in the digestive tra ...
read full comment
One for my records. Cheers
RE=REWAD: "...As I have said earlier, our ideas of socialism can co-exist with private enterprise. I also believe that private capital and private investment capital, in particular, has a recognised and legitimate part to pla ...
read full comment
I fully agree that a mixed Economy would be our best economic paradigm forward, and we must not shy away from it.
Yes, the Asian Tigers employed that system to advance. Even Singapore manifested much of a mixed economy to ...
read full comment
Capitalism does not work because it is mean and anti-social as it lacks a human face. It is all about, ' Money, money, money, money, Gimme, Gimme, Gimme, it's a rich man's world", according to Abba. It is a continuation of th ...
read full comment
Francis Kwarteng there is no communist country in the world today, just as Christians have not brought haven to Earth, so the communists said that communism is an economic system that will be practiced all over the world when ...
read full comment
Kwame, I agree. Countries may retain the name 'Communist' today only to make a point that they were not cowered by the West to capitulate. But in reality, they have been functioning on mixed principles of Capitalism and Socia ...
read full comment
G.K. Berko socialism is not the same as communism. As imperialism is the highest stage of capitalism, thus communism is the highest state of socialism. We stated many times that socialism comprise of three elements, state cap ...
read full comment