The World Going Forward:   The Confusion Of   Free- Market Believer

 Im sitting here reading a proposal I made for a conference staunchly arguing for the expedient, if not sanctioned global integration of much of the financial services in Africa.  The reason why im re-reading this is that im coming to realize that there is a danger to the way we have been trained to think; and be “ we” I mean aspiring economists.  I mean, this is not shunning my field of interest this just me accepting, like and English writer would have to accept   that his writing method should evolve with time that the world has drastically changed.

 Our field is very much global, and forward thinking with an astonishing concern with the long run--- leading one prominent economist to say that in the long run we will all be dead!   I have made arguments about the virtues of free- trade, de-regulation, and confrontationally made arguments against tariffs to many people.  Im convinced that entities that regulate the world, as a matter of intellectual fact stifle industrial innovation—(but that is another issue).

 The current economic crisis in the west, obviously, has affected everybody. Some folks mention the fact that  we are so interdependent that  if  one had to shoot his foot he would be begged not to because others will equally bleed. Now, what does this whole thing say about integrating economies in Africa into the global arena? In fact, should we integrate these economies; should we force them to integrate by free-market policies?  I was convinced that the “MARKET” worked with such unquestionable efficiency that any problems would be symptomatic of everything other than the market.  However, we attempt to put logic to an entity obviously driven by greed and fear; elements that are anything but logical.  I can say, though, that im hesitant to champion the integration of financial services on the premise that it would be unjust to expose a child who in his isolation has learned to be conservative to a world of rogue traders with financial derivatives so complex that if you engaged in them you would end up selling your next life if you had to be reincarnated ( if you believe in that) or that  when you go to heaven you will still be paying  towards the cash flow you  agreed upon when you were on earth. This is doing what we have been told to despise “PROTECTIONISM.”  Now what exactly would we vouch for? Or is there anything to vouch for in the case for globalization as the opponent of Capitalism Karl Marx observed that it is unstoppable—Communist Manifesto.

Im not sure! I actually do not know what to say because I would be lying if I wrote that this is what was right and what I believed in. I have to admit the intellectual realization that what I have built as my reality is in fact questionable for I believed that free-markets are the way of the future and through that less people will be hurt. I do not, however support socialism neither do I support any form of “organized” communities.  But I simply have lost faith in free-markets because there is nothing at the moment that I can look to and say that is the reason why ADAM SMITH will always be right.   If it is a belief in free-markets, I still do not know what element of the system to touch; I can assure you that government capital injections in the economy won’t work—even though some have worked. Injecting money on Wall Street at the t moment is like putting meat in a lion’s mouth thinking that it won’t chew the meat. People are waiting for the capital injections to sell the positions they are pumping up and when that time comes voila; The lion swallows the meat!

 We live in a very scary world!