Monday, 29 September 2008

Capitalism is a complete and utter failure

Capitalism is a complete and utter failure – the principality of it I dislike, the share fact that the strong should survive and the weak die is a principle I do not share nor advocate.

The system is unfair and can lead to greed and selfish attitudes similar to what we have seen on Wall Street in the USA and similarly in the UK.

What is strange is that Capitalism in its pure form advocates and supports greed at the expense of the poor masses. This is true – we see it in the unfair trading rules of the WTO that prevent poor farmers from competing.

We also see it within financial institutions of the IMF AND World Bank who would provide loans to Poor African nations at rate and life cycles term beyond the presidencies of those that originally signed these agreements, ensuring that those nations stay and rot in abject poverty.

So how come is it that Bush is now prepared to rescue Capitalism from collapse, this goes against what capitalism is all about – surely week intuitions should role over and die and stronger ones take their places.

700 Billion $ is a lot of money that could irradiate poverty on the African Continent - this money should be siphoned to support Africa and save lives without delay.

Tuesday, 2 September 2008

Corruption in Africa

Sierra Leone’s President Ernest Bai Koroma became the first head of state to declare his assets to the country's Anti-Corruption Commission.

The issue of corruption has long been being echoed by industrialized nations as part and parcel of African culture and ideology.

Most African Leaders from the sub-continent have horded billions of dollars into foreign bank accounts due to their lack vision of how to galvanise their people. In Sierra Leone this has lead to perpetually failure within their communities specifically in human and structural development, the ramification of which would linger for many generations to come.

Some Industrialized Nations in the north relishing this opportunity of ample cash flow for their economic development, have encouraged connive and at times turned a blind eye to corrupt leaders in the south continual plundering Africa’s wealth.

We must accept that corruption is a two way process involving a giver and a receiver which has now become a way of life for many leaders in Africa, it is estimated that corruption cost the African continent over a 150 billion dollars a year. That is money that could have been spent on health education and building up the rural economy.

As awareness of issues surrounding corruption has intensified in the world, some African nations like Sierra Leone are now beginning to change their laws to make it harder for corrupt officials to stash stolen money in foreign banks.

President Earnest Bai Koroma has shown great courage and exemplary leadership by leading the fight against corruption for the rest of Africa to follow.

Developed Nations in the west now have a positive role to play, in promoting good governance and to monitor poorer economies.

It is time for governments of the Third World to sit up take stock and become responsible by creating jobs for their people and local communities need to engage their leaders by mobilizing public action.

Real development in Sierra Leone is unlikely to change poor people’s lives if there is not an injection of foreign direct investment into the economy and a halt to continual perpetual cycle of bad governance.