Can politics and economics work toward economic growth in a country? Yes they can. But let us attempt to answer a question? Does political power follow economic power or is it the other way round? I believe that in a true democracy, political power will follow economic power. So now you are probably thinking of economic power by just a few people. No, not so. When there is free and fair voting, and the electorate is well informed, the people vote on the basis of economics, and that's what the politician must pay attention to. If that happens then the economy tends to work better, because the politicians will be doing what the people, that is what the voters want. The people want the things that make them happy and trust the politicians they elected will act in that regard. What happens when the economy falters? The people are hoping that the politicians they voted in will develop policies that will be deployed to provide a rescue. What is often interesting is that the politician has a dream. That is, he develops a vision and then sells it to the people. When the people accept and receive the vision they will vote for the politician and expect him to take all necessary steps to activate the vision in all it's manifestations. The Dream of pharaoh was a vision for the people of Egypt. It came to Pharaoh and he sold it to his people through Joseph his administrator. The dream of a president for national prosperity for example must be accepted by the people if it is to work. Therefore the president will need to listen to his assistants and insist that his various departments avoid working at cross purposes and work in one accord. As an illustration, I think that the Central Bank alone should determine monetary policy. The other departments of government should try not to preempt the Central Bank in monetary policy pronouncements. Now about Nigeriaâ€™s economic recession, I believe there are reasons why a recovery can occur. If politics does not undermine economics, the recovery will soon start and be felt towards the end of the year. However, for good results, the executive should endeavor to be open with the legislature, carrying them along in its visions and policies. This will be a good thing for the country. I am Magnus Kpakol and that's my view.
Posted: Jan 25th, 2017 @ 01:37:08 AM