The lawyer Maurice Ampaw has an interesting claim as to why he shouldn’t have to give back the Toyota Land Cruiser he got from Menzgold. He was an investor in the Ponzi scheme and therefore this is just him gaining his own money back. Except that’s not how we clean up Ponzi schemes. No one is, in legal terms, a preferred creditor. So, Ampaw doesn’t get paid back in full while everyone else has to wait and or get paid out small amounts on their investments.…See More
That Zimbabwe is still having problems with it currency and money supply is obvious enough, the debate is over what to do about it – here Nucube at the central bank is correct. Liberalise, preferably completely, the exchange rate rather than introduce yet another new currency. For the problem isn’t in fact that there’s too much or too little money around, it’s that the price of it is wrong. Get the price right and all the other problems go away.…See More
The Attorney General has said that it would be impossible to eliminate corruption in Ghana. If we mean completely eliminate then yes, of course, we humans never manage to completely eliminate anything other than dodos. But if we mean get rid of it to the level where it’s simply not a problem, not something we even note any more, then yes, that’s entirely possible. The trick is to make it not worth being corrupt. Either reduce the rewards or increase the punishments until we get to that point.…See More
A standard finding in economics has just been confirmed by Nasa – the world greens as it gets richer. The latest studies show that the world is indeed getting greener and that it’s India and China leading the way. This is as it should be, as it has been predicted it will be too as a result of something called the environmental Kuznets curve. Essentially, truly poor places will cut anything down in search of the next meal, it’s as a place gets richer that people have the option to make it look nice too.…See More
Perhaps you’re a psychopath who enjoys the terror on peoples’ faces as they understand they’re just about to die. Possibly you’re a well meaning and good natured sort who just thinks the world would be a better place without certain types in it. Whichever it is that leads to your desire to kill people your luck is in. For Sri Lanka is looking to hire hangmen:
Sri Lanka began advertising for hangmen this week, as the country’s president ramps up his war on drugs.
We should not perhaps blame Bill Gates for this little comment for the man’s far too bright to make a mistake like this. Actually, an old friend worked for him and said it was scary, he was clearly the most intelligent man he’d ever met. So, no, Bill Gates hasn’t said that poverty is no bar to excellent health care in Africa. For quite obviously excellent health care costs substantial amounts of money, money being the definitional lack of which is poverty.…See More
There’s a certain element of tongue in cheekiness to this suggestion – or perhaps it’s simply to make a political point. The idea is that Tanzanian MPs should have to show that they are circumcised and if they’re not they should have the chop. This not being something that any adult male contemplates lightly, it’s something much better deal with at the beginning of infancy if it is to happen at all.
But here’s the suggestion:
A female MP in Tanzania has called for checks to determine whether or not her male colleagues have undergone circumcision — a procedure known to reduce the risk of HIV transmission.
Within economics there are two closely related ideas, the resource curse and Dutch Disease – Nigeria suffers from both of them. These two together explain why Nigeria is not in fact rich from the oil, rather it’s dependent upon oil and not rich.
Fortunately this has been noted locally:
Salami said, “They say Nigeria is oil-rich, Saudi Arabia is oil-rich, Nigeria is oil dependent. Nigeria does two million barrels of crude oil per day, then at least 365 days roughly 800 million barrels of crude oil annually.
Arun Jaitley has intimated that India will try to move to a single GST rate – somewhere between 12 and 18% – which is an extremely sensible idea. There is no particular reason why government should be favouring the consumption of some goods or services over others so all should be taxed at that same rate. As to why taxing consumption, well, it’s necessary to tax something because government itself is necessary. No, not everything government does, nor even most of the things done by most governments but some really is necessary.…See More
This is an interesting little piece of macroeconomic management being proposed in Ghana. If the Finance Minister allows a budget deficit of over 5% – so, therefore, of 6% – of GDP then Parliament should impeach him or her at the beginning of the next calendar year. What’s even more interesting about it is that it’s not an attempt to simply deny Keynesian economics, nor to stop the politicos blowing the lot on diversity advisers or whatever.…See More