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Economic Reforms: President Says Burden Must Be Proportionately Shared

Featured Economic Reforms: President Says Burden Must Be Proportionately Shared Photo Credit: sunnewsonline.com

Sunday, January 17, 2016

 

Recent happenings in government are beginning to make even the staunchest of supporters question their decision to vote in the present administration. While it is true and logical that things may need to get a little ugly before the desired change, how accountable the government is determines how much confidence the citizens repose in it.

 

Owing to the various reform activities and policies of the administration, the economy has suffered retrogression - with the bulk of the weight of the consequences being borne by citizens. It is not so much about the anti-graft wars as it is about cost-benefit ratio of the approach, and the possibility of economic marginalization.

 

Perhaps there are questions that need(ed) be asked?

Cost-benefit Analysis:

  1. What are the root causes of our challenges, and what are their characteristics?
  2. What are the possible strategies to either knock off or resolve the problems?
  3. Using Pareto Rule (80-20), which 20% of area can we focus to get over 80% strategic and sustainable results?
  4. Of the strategies that fall within the 20% area, which one(s) would cause the least hardship on the general citizens – who are originally innocent of the thefts?

(Economic Marginalization: )

  1. Given the outrageous riches of the real thieves, aren’t they better positioned to cushion the effect of the introduction of stringent economic policies - despite their slim chances of being nabbed or convicted?
  2. When funds are removed from circulation because of few real thieves, how does the (micro) economy thrive?
  3. After all the suffering, would we not have put funds back into the hands of a few people - through Treasury Single Account and the likes – considering there obviously still are goats around our yam?

 

Friday, January 17, 2020

It has indeed become a norm that making general citizens bear the most weight of results of any economic reform should only be the last resort – and provided certain levels of societal developments have already been put in place by the government.

 

The President, while commenting on the call for reduction of workers’ minimum wage yesterday, January 16, 2020, said it is wrong for the nation to always put the weight of development on the shoulders of the “most disadvantaged of us.” “Businesses and wealthy individuals (some politicians) have major roles to play in this. We are working out modalities to get them better involved and to ensure the effects on them can be as bearable as possible,” said the President.

 

While it is true that sacrifices have to be made to achieve progress, they are better shared somewhat based on proportion of wealth – otherwise, the masses would always pay for the recklessness of leaders, and the results would be counter-productive, at the long run.

 

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