gvA Update

Slim Shady Politics Marshall Mathers, otherwise known as Eminem implies in his hit song The Real Slim Shady, that a lot of people are trying to fake their way to be like him. Now, let's come to Nigerian politics. Will the real new political king please stand up! Across Nigeria, political king makers are no longer able to recognize the political king they just installed. The person has changed. My goodness! So the person you installed is not who you thought he was. Slim shady politics. That's what I call this situation, where you install someone in office and he turns slim shady on you. He changes from whom you thought he was. Why does this happen? What is the economics behind it? Here is what it is. There are two primary factors. 1. There is deceptive packaging and 2. There is market failure. In the first situation, a buyer, in this case the political king maker buys a product (well, he buys because he expends a lot of resources) to install a person he the king maker thinks will be his own product to perhaps control. Unfortunately, and indeed unknown to the king maker the product had deceptive packaging because of sycophancy. Upon opening the package, the product is false. The King maker apparently chose the wrong person. The product may even be poisonous to the buyer. In traditional economics, market failure occurs because of the presence of what they call negative or positive externalities, where costs or benefits of a good or service are spilled over or so to speak externalized to people who were not direct buyers or sellers of the product or service. The king maker apparently bought a product thinking it is a private good that he could have complete control over, when in fact it is a public good with benefits that can flow, even to perceived enemies. The king maker apparently can never completely control the king as the king is not a private good such as an apple but instead is more like a public good such as a street light whose benefits can accrue to people who may not have paid for it. So what it all means is this. Most people have a tendency to turn slim shady. We will all be better off if no one thinks he alone should control it all. Now listen to this. The wrong person, packaged in sycophancy may look to you like the right person or you may indeed be fooled in the political market place into thinking that you can control what is indeed not possible to be controlled. Our hidden economics for you.


Posted: Jul 9th, 2015 @ 06:11:54 AM