One school of thought argues, it is not the business of government to do business. Really? What then is the business of government, if it cant create wealth and prosperity for its people directly and through the affirmative support for active resident entrepreneurs? In many instances of market failure, such as the Financial crunch witnessed since 2008 and its associated recession, the US and UK governments have spent heavily to subsidize and re-capitalise some of the failed banks and manufacturing firms from utter collapse. So I belong to the pragmatic school of thought that believes in the active participation of the state in providing essential services and using its high purchasing power to support wealth creation for its people but with great discretion exercised within the confines of the law. China and Brazil have clearly shown the way and even the USA has shown through its interventions the state has a crucial role to play when it comes to doing business. We must therefore continue to insist on the exercise of good governance from the state-that to me is what we ought to keep doing. #CapitalismwithoutCapitalremainsamirage
Posted on: Mon, 27 Oct 2014 12:27:23 +0000