"how many past leaders from buhari to abacha have established a single cottge industry in their villages to assist the poor people their?"You ask.I dont know.
You ve not answer the fundamental question.Viz:given the objective realities of the Nigerian Political Economy,how can this LDI u advocate promote national economic development?Your prime example,Dangote is a monopoly capitalist,whose empire grew astronomically under the OBJ junta.I wont detain U here with the demerits of MONOPOLY CAPITALISM(which in itself is a product of the internal contradictions of the Capitalist formation)presuming that u already know.
You also said,"...we fail to understand is that they have created wealth by offering their shares to the nigerian public, established a platform for distribution of their goods and services in nigeria in the face of cheap imports, and taken the risk of even establishing industries in nigeria".
I beg to humbly disagree with u on some of that.The Nigerian population is estimated to be more than 120 million people.How many of these ve shares in these companies u are talking about?How many of us can afford the shares?How many of us ve eaten 3 square meal & still ve the savings to invest in these equities?How many of us are educated enough to know about the workings of the capital market?My brother,the provision of opportunities without the corresponding creation of abilities is futility.What good is opportunity without ability?This is my problem with liberal democracy.You give people formal freedom without the ability to exercise them.Same holds for the Nigeria economy.
As for your talk about them taken risk,it is inconsequential.Risk taking is the hallmark of an entrepreneur.However,these guys dont even take the risk.The Gov't clear the path for them.
On there distribution network,MY BROTHER,that's a business function.Production is not complete until it gets to the consumer & distribution is a process that facilitates that.According to Adam Smith,in his classic book the WEALTH OF THE NATIONS,the entrepreneur, or the producer as the case may be,does not go into the production of goods and services out of LOVE for the masses.They do that for profit.Thus,the profit motive is the lubricant of the wheel of capitalism.That's why when Dangote's name was listed in the Forbes ur name & mine was not their.Let me stop here.
However,I salute ur patriotism.
Posted: at 12-08-2008 09:28 PM (15 years ago) | Upcoming |
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