Mixing micro-economy and macro-economy as if both were the same?
There are 3 levels in the economy,
First level, this one you get your knowledge from and you can see the actors: Hairdressers, oil change, maids, savings, personal debt, children school.
Then there is the second level where te actors are: industries, banks, work forces, unions, local, state and central governments, central banks. They discuss mininum wages. Interest rates, labor policies...
Then there is another level. The third level. Central Banks, the exchange rates, external debts, foreign reserves, IMF, the World Bank BIIS which are beyond your grasp of knowledge.
what does your taxi driver, reflexologist and contractor tell you?
I am small talker by nature when it comes to level one, as they do not know what I know and I impart my knowledge to them gladly
High Speed train in Morocco say the taxi driver as we drive to traffic jam in Nairobi.
I ask. Who is paying for that?
He says, 50% government. the rest split between project finance and bank loans.
Elmat tells, is seems more likely to succeed than Indonesia where the Chinese just dump the trains there.
But this is all good to the populations he reacts cargo cult like.
I say to him that child crawl, walk, then run.
One need to learn how to swim and only after that learn how to dive.
Horse carriage, Bicycle, motorcycle, car...
There is a step by step approach to how development progresses.
The rich countries progressed this way.
Poor countries always want to go from truck to rocket launching satellites and that does not work.
Maureen, who was in the taxi to, enters the conversation and say:
Look to Singapore, how could they have done and developed?
Singapore is a city. Not a country.
Chibata! Brutal regime that taught a bunch of Indians Malays and Chinese how to live together and progress. (Chibata is Lash)
The close think I have in terms of reflexologist was the lady that put my left shoulder right as I got frozen shoulder then had to remove calcification. She is physiotherapeut
She, a pretty South African young lady, is now in Cayman Island thanks to Elmat.
She asked me what I did. While she tortured me with electrical shocks and needles.
I told I was an expat contractor working for Ericsson
Once I told her what I did she said her husband did IP and once I exploited more he was doing Unified Communications
Talked a bit about the prospects of someone on that field
Next session she asked more questions.
she said they wanted to leave S. Africa.I told the channels opened for someone trying to get into that field and
Cut short. Her husband got a job with Digicel and they decamped to Cayman Islands
and what do you tell the thread?
I post links to my writing in LinkedeIn
As you are not versed in Macroeconomics you need book.
Money: Whence It Came, Where It Went
Book by John Kenneth Galbraith
A classic look at the story of money is updated for the 1990s by the eminent economist, offering an in-depth, often hilarious lesson in human behavior and a layman's course in the theory and practice of economics. |
