‘Homegrown’ Economic Agenda is All About Wealth Extraction not Wealth Creation. By Kebour Ghenna

2 min


I don’t know what books our elites read, but they seem not to realize the capitalist/free market system has failed on this planet.

Today capitalism, rather than delivering sustainable and widely shared prosperity, is increasingly producing wage stagnation, leaving ever more workers and farmers in poverty, advancing ever more inequality, expanding banking crises, and promoting the convulsions of populism and the impending climate catastrophe.

Dear Readers,

Neoliberal and capitalism policies, perpetuated since the start of the 20th century are increasingly rejected. The policies of privatization, deregulation, lower taxes for business and the rich, more power for employers and shareholders, less opportunities for workers – are failing, despite the efforts to make them appear inevitable; to depict any alternative as impossible.

To say that capitalism is a failed system is not, of course, to suggest that it’s now on the verge of crashing. It may still gyrate for some time, like a chicken with its head cut off. For those few moments, the chicken appears to be alive and even strong, before finally collapsing and dying. Yes, dear readers, capitalism has passed from being a historically necessary and creative system at its beginning, to being a historically unnecessary and destructive one today.

It appears that our leaders have not realized the world has changed!

Last month we read the simplistic “homegrown” economic policy, a dangerous text, completely blind to questions of global socio-economic realities. A corrupt text which, as much as possible, reflects what the big international patrons in financial oligarchy want.

Read it and judge for yourself whether this is an agenda working for the people or for big foreign companies, whether it’s a program that articulates a viable vision for a united and strong Ethiopia or simply a propaganda piece in best Soviet Party tradition, in this case, to satisfy irresponsible foreign financiers. Judge whether it favors short term gains over long term prosperity, whether the plan can feed, educate, house and cure Ethiopians, whether it can construct a forward-looking, optimistic and productive Ethiopia or opens the country to foreign capital, hence exploitation.

Judge for yourself!

In this increasingly unsettling environment, this government failed to bring together people of different ideological inclinations to work together and to skillfully re-engineer the system so that the pie is both divided and grown fairly. Instead it’s rushing to impose neoliberal policies that are everywhere beset by market failures.

While this goes on in the country, the news is dominated by ‘’Medemer’, or Jawar, the self proclaimed ‘activist’, who is the Rasputin of the Prime Minister. As near as we can tell, both are mostly distractions.

But distractions from what?

Distractions to ease the auction of the very strategic assets created to benefit the country to global financial elites in the name of efficiency.

My point in all this, is that while capitalism is not at its beginning and not at its end, it is definitely at the beginning of its end. Unless we put in place a coherent vision of a viable and desirable alternative to capitalism, then barbarism will take over, understood as a breakdown not only of the economy, but of an entire civilization on the order of what is already unfolding in our country.


Like it? Share with your friends!

admin

0 Comments

Your email address will not be published. Required fields are marked *