Counting The Cost: The Economist Buffoonery And The Elasticity Of Falsehood By Ade Ilemobade
Elasticity is the parameter of determining the responsiveness of an element to various factors.
The pseudo analysis of Nigeria’s political economy by THE ECONOMIST MAGAZINE and the lack of expected responses have manifestly proven that falsehood and shenanigan can never be a panacea for influencing government policies.
LONG LIVE THE FEDERAL REPUBLIC OF NIGERIA.
I woke up this morning to a whirlwind of episodic thoughts elevating physio-anatomical reflexes that made me wonder if what I had eaten the previous night is psychedelic in nature.
I began to rummage through the kitchen, looking in different directions searching for an answer in the food basket all to no avail; suddenly the eureka moment came when I put on my laptop to check the news of the day which is my daily routine. Voilà! The Economist Magazine superimposed itself on the screen.
I quickly realize that my ghostly apparition and elevating physio-anatomical reflexes are non-psychedelic, rather they have to do with discourse I had with a colleague at work concerning the economic deterministic nature of our globalised world.
I see economics/economy at the centre of governmental policy mechanism with its hydraheaded links into socio-political engagements worldwide; while my co-discussant hold the view that it is predominantly peripheral in respect of decision making philosophy.
This would be the subject matter for another engagement.
Before I bored you with this (praeludium), let us go straight to the Ecomonist Magazine buffoonery and the elasticity of falsehood as presented in their double publications.
1.The January 30 publication titled ‘Crude Tactics’.
2. The publication titled ‘Hope the naira falls’.
I want to say here that we Nigerians need to stop legitimizing, glorifying, and hyping these Magazines from the western world as if they are authentic/repositories of all knowledge and analyses on any given subject matter.
They are mostly agenda driven publications which are definitely subjective, but they are camouflaging and masquerading as being objective. They are agents and actors in spreading specific kinds of ideologies worldwide, put differently they are the peripheral instrumentarium of the centre.
The Economist Magazine has an opinion and they are entitled to ventilate such viewpoint.
Western media calling your monetry policy bad, know you are doing good. They don’t have the answer if they do there will be no crises in the western hemisphere.
Greece, Spain, Portugal, exemplify the fall out of bandwagoning the opinion of the so called Western media, as a developing country we must always be circumspect.
We need to avoid a situation wherein we are led by sensationalism in the Western media. Mahatir Mohammed of Malaysia was criticized in the 80s but stuck to his policies, Malaysia is good 4 it now; while Ghana was praised by the west for borrowing based on projection of Oil production and income in the future see the disaster it has become for allowing herself to be sherperd by hatchet narrative in foreign magazines by the so called Experts.
Most governments with a focused orientation would take such publications with a pinch of salt because they are mostly regurgitating inaccuracy and half-truth. The viewpoints expressed in the Economist Magazine is no panacea for Nigeria economic progress, we live here, we understand how things work in our clime.
The opinion expressed in the two publications, reflect an obvious bias with emphases on the past as if Nigeria is under a Military regime. Note, this is a democratic dispensation wherein government policies are discussed openly, there are no new analyses out there that Nigerians have not intellectualized.
Nigerian Government policy orientation in respect of the economy is vividly presented in the budget 2016 and the microeconomic/macroeconomic direction as enunciated by the CBN; are manifestation of the fact that President @mbuhari knows what is good in this circumstance.
Nations do not rely on articles in magazine to determine their monetry/economic policies.
We cannot really take a risk with the local content industrial development by allowing those rent seeking capitalist deplete our foreign reserves in the name of importing rubbish with all its implications of dumping such products at our doorstep thereby killing local manufacturing/industries.
Let them, Neoliberal capitalist find their foreign exchange on the open market, with the exception of industries with strategic importance to the nation like Energy, Housing, Health, Education, Transportation or joint venture entreprises in the Minning of Solid Minerals, Oil and Agriculture.
Most of these industries mentioned above have social services orientation and under the purview of government control.
We need to tighten our belt and look inward rather than being led by an article in the Economist Magazine. It is a ”wishy washy” a rehash of old arguments. Is not worth it!
Nations are like humans the way we lay our bed so shall we sleep on it. Let us look inward for solutions to our problem and neglect those agents of neoliberalism and rent capitalism.
We now have an opportunity in @mbuhari to create solid foundations that we would not go out panhandling anymore.
Mr. President thank you very much for fighting corruption & protecting local content industries.
We need to wise up Nigerians.
OTUNBA ADE ILEMOBADE is a philosopher