Oops, i forgot to add that the advanced countries in the world have neither progressed through extreme capitalism nor outright communism but the hybrid of both principles as 9janja rightly pointed out which can be referred to as State Welfarism. That is what the Labour PM is doing in the UK and what Pres. Obama has just achieved with the Health Care Bill and other post- recession policies.
While i don't support regimented economic policies, i also don't advocate that a government should abdicate its responsibilities to economic hawks and predators.

A major reason why Nigerians are particularly bitter is because of the awareness that the country possesses the wherewithal (both human and natural resources) to lift it out of the economic doldrums it has found itself.
This socio -economic quagmire is the outcome of the fusion of neo- imperialists, military political adventurists, pseudo economists, quasi- political leaders and other forms of nepotism and unbridled brigandage that has pervaded the country's socio- political firmament.

Well done fellow forumites, you have made this thread truly intellectually stimulating.

My own view is that unbriddled capitalism is a recipe for disaster, it will create so much exploitation of the masses by very few people, hereby widening the gap between the rich and the poor, until the social upheaval causes a breakdown in the society. The US is fairly new in its capitalism experiment and so had not experienced the cycle of social upheavals so many ancient civilizations had passed through as a result of un controlled capitalism.

The most annoying thing about the Nigerian experience of capitalism is strictly stealing of collective resources. The various government officials and their cronies steal public funds, buy up government asserts at ridiculous prices and then charge the governed who were the original owners of the said resource exorbitantly. Then they brand it capitalism. The whole assets of Lagos state had been bought up by the previous administration, that i do not know if Lagos as a people have any assert left. I hope they do not also sell of Odua Investment assets in the name of privatization.

The most important thing in any form of government, is the welfare and well being of its people. Once one loses sight of that, then the eventual demise of such a society is certain, it is only a question of when.

PADDY LO ARE YOU RUNNING SCARED ?

I HAVE POSTED TWICE NOW RESPONDING TO YOUR LIES ON INDONESIA AND EXAGERATTED CLAIMS ON THE DEMISE OF SOCIALISM. hOW CAN THE PUBLIC REGULATION OF THE ECONOMY BE UNFASHIONABLE WHEN OBAMA AND BROWN HAVE RECENTLY SPENT ALMOST A TRILLION DOLLARS OF PUBLIC MONEY TRYING TO MANAGE A SYSTEM OF ARNACHY.

WHY NO RESPONSE YET ? OR ARE YOU STILL TRYING TO FIND A WEBSITE TO PLAIGARISE MATERIAL FROM. WHAT'S UP ? LOST YOUR BOTTLE ? CHECK MY LAST 2 POSTS AND GIVE THE BOARD AN ANSWER

i forgot to add that the advanced countries in the world have neither progressed through extreme capitalism nor outright communism but the hybrid of both principles as 9janja rightly pointed out which can be referred to as State Welfarism. That is what the Labour PM is doing in the UK and what Pres. Obama has just achieved with the Health Care Bill and other post- recession policies.

Are you sure of what your saying because its clearly not working

odumorun:

PADDY LO ARE YOU RUNNING SCARED ?

I HAVE POSTED TWICE NOW RESPONDING TO YOUR LIES ON INDONESIA AND EXAGERATTED CLAIMS ON THE DEMISE OF SOCIALISM. hOW CAN THE PUBLIC REGULATION OF THE ECONOMY BE UNFASHIONABLE WHEN OBAMA AND BROWN HAVE RECENTLY SPENT ALMOST A TRILLION DOLLARS OF PUBLIC MONEY TRYING TO MANAGE A SYSTEM OF ARNACHY.

WHY NO RESPONSE YET ? OR ARE YOU STILL TRYING TO FIND A WEBSITE TO PLAIGARISE MATERIAL FROM. WHAT'S UP ? LOST YOUR BOTTLE ? CHECK MY LAST 2 POSTS AND GIVE THE BOARD AN ANSWER

What nonsense. While you keep going on with your anti-globalisation crusade millions of people have been lifted out of poverty an into the middle classes thanks to free movement  of capital and labour.

Kobojunkie:

Capitalism is NOT modern slavery – Western governments are continually trying to find ways to regulate it to the benefit of their people. I am definitely not, for what @Paddy_lo is proposing here because I doubt he has really studied most of the countries he continues to mention closer than in an economics class or something similar. In most of these countries mentioned by @paddy_lo, capitalisms is akin to slavery, what the governments in these states allow for their own people, and that is not what we ought to be calling for.

I don't know what you stand for at times. How do you think the USA can afford its current very expensive social security system if not for the taxes on capitalist companies.
Capitalism does through the mechanism of the free market lead to theefficient allocation of resources and the creation of value.
You are confusing the redistribution of income and wealth which is the prerogative of the government through the tax system with the production of wealth which in a capitalist system is the prerogative of private businesses.

sulad82i:

Like I said before . this thread is Paddy lo vs, other.
and also
paddy lo is all over the place picking points that sometimes doesnt align with the point he's tryna make. I dont know if you ever think of it that capitalism is modern slavery. The rich guy doesn't have to force you, the law protects him just like the big country can use small ones to make ends meet for their population.

You need to understand how the free market works first of all. At the basic level it is all about buying and selling.
No private company owes you or anyone else a job or a contract. However if the company envisages that your services or goods will add the desired value to them  then you MAY be employed or contracted. It is as simple as that.

tensor777:

I don't know what you stand for at times. How do you think the USA to afford its current very expensive social security system if not for the taxes on capitalist companies.
Capitalism does through the mechanism of the free market lead to theefficient allocation of resources and the creation of value.
You are confusing the redistribution of income and wealth which is the prerogative of the government through the tax system with the production of wealth which in a capitalist system is the prerogative of private businesses.

I know it is TOO easy on here to think you KNOW IT ALL; I told @Paddy_lo the very same when he REFUSED to read what was posted but RUSHED to post a response that had Next to NOTHING To do with the post. Please go back and read again. If you have questions of what is written, ASK, and I will gladly explain it to you again. It is rather difficult to respond to your post there because in one line, you claim not to know where I stand but in the other you CONCLUDE you have it all figured out.

Kobojunkie:

It is rather difficult to respond to your post there because in one line, you claim not to know where I stand but in the other you CONCLUDE you have it all figured out.

Well I just have to be honest and say I don't know where you stand on issues of fiscal and economic policy. On issues appertaining to America you sound like a Republican, whereas on issues appertaining to Nigeria you take the position of a protectionist anti-free-trade Democrat. The irony being that Nigeria cannot afford to adopt such an ideology whereas the USA probably can.
People need to accept that the era of economic nationalism is over. However I am aware that some posters here are nostalgic for the kind of economic policies employed by the likes of the Idiagbon and Murtala regimes.

tensor777:

Well I just have to be honest and say I don't know where you stand on issues of fiscal and economic policy. On issues appertaining to America you sound like a Republican,

I sound like a republican?

tensor777:
whereas on issues appertaining to Nigeria you take the position of a protectionist anti-free-trade Democrat. The irony being that Nigeria cannot afford to adopt such an ideology whereas the USA probably can.

I sound like an anti-free-trade democrat?


Are you certain the problem is with my views or yours? I can't even fathom how anyone who has read even one of my posts on Nigeria, and the few on America, would confuse me for a republican, and also a democrat. It is IMPOSSIBLE if you were to go by my own posts on here.

pcicero:

Oops, i forgot to add that the advanced countries in the world have neither progressed through extreme capitalism nor outright communism but the hybrid of both principles as 9janja rightly pointed out which can be referred to as State Welfarism. That is what the Labour PM is doing in the UK and what Pres. Obama has just achieved with the Health Care Bill and other post- recession policies.
While i don't support regimented economic policies, i also don't advocate that a government should abdicate its responsibilities to economic hawks and predators.

You sound extremely confused. There is a difference between the production of wealth by capitalist companies in a country, and the redistribution of that wealth through the tax system which is the norm in a developed Western country.
Can we stick to developing countries and mention one country that has progressed to NIC status though communism or socialism.
Check out South Korea v North Korea or Vietnam v Singapore or Cuba v Dominican republic.

tensor777:

Well I just have to be honest and say I don't know where you stand on issues of fiscal and economic policy. On issues appertaining to America you sound like a Republican, whereas on issues appertaining to Nigeria you take the position of a protectionist anti-free-trade Democrat. The irony being that Nigeria cannot afford to adopt such an ideology whereas the USA probably can.
People need to accept that the era of economic nationalism is over. However I am aware that some posters here are nostalgic for the kind of economic policies employed by the likes of the Idiagbon and Murtala regimes.

There is nothing republican or democratic about free trade. Dude you are listening to Rush Limbaugh  and fox news too? What is right is right and what is wrong is just what it is. People think capitalism is a Liberal thing blah blubi blah blah but it's not. Who are the anti social healthcare? is it the liberals? Are you happy that companies only value Nigeria as a consumer nation? Look what happened to Jamaica. They were a farming nation now what? Foreign companies with huge capitals edged the local farmers to the side destroying the local economy. Free trade only benefit those with huge capitals. Nigeria is importing fuel imagine a oil producing nation importing fuel. Imagine if a Nigerian built his own oil company in Nigeria and supplying to Nigerians and the profit stays in Nigeria. How that sound? Good? Now local farmers has been feeding Nigerians for ages. Now imagine a big time farmer from Texas invested Billions in Nigeria and regulates his own prices? He will have more products in the market than the local farmers and what next?  Just like Jamaica we will start importing all our food produce. Instead of calling for foreign companies, why not try it on our own first? The only reason Nigeria is relevant to many companies and countries is cause of our consumer nature not cause we are any relevant in anyway.

Obama just opened some offshore drilling blocks what will you call that? republican right? My favourite Government will now be the ones to give out student loans what will you call that? You should be one of those who thinks Liberalism is an opposing principle to conservatism. Hybrid of all makes the best. Some situation requires one some requires the other. You should be of both and not of one. Be flexible with your principle else you'll remain in same place. Democrats are not against free trade cause it something the republicans supported, They are against it because it favours Mexico and Canada more than the US. The US dollar is more than both therefore jobs will be exported to these two countries. Drugs that US pharmacies sell for $40 are $10 in Canada. It doesn't favour Americans except the republicans trying to get more cheap labour from Mexico.

^^
As for your points, I have to say I do not agree with basic thrust of your arguments. In a free market system capital and skilled labour should be free to move wherever they will get the highest return, It would be very unusual for any one country to "have it all" so to say.

In summary, the OP has got it all wrong. The Federal Government has to continue its policy of opening up the economy by encouraging foreign direct investment. and free trade
The key to sustainable economic growth and development in Nigeria will in fact be the  demand for consumer goods and services from the growing middle classes.
A return to economic nationalism and trade protectionism will in fact make the poor even poorer than they are now.

tensor777:

In summary, the OP has got it all wrong. The Federal Government has to continue its policy of opening up the economy by encouraging foreign direct investment. and free trade
The key to sustainable economic growth and development in Nigeria will in fact be the  demand for consumer goods and services from the growing middle classes.
A return to economic nationalism and trade protectionism will in fact make the poor even poorer than they are now.

what you've said here is contradictory, as Odumorun stated earlier western countries like britain and america  HAVE returned to economic nationalism - it was the tax payers who had to bail out the banks - these banks were not left to the whims and caprices of the free market they were SAVED by tax payers, Obama took $700b of tax payers money to bail out banks that were on the verge of bankruptcy , Brown did the same in england so you are contradicting yourself. The royal bank of scotland, northern rock, bradford and bingley all these banks were saved from bankruptcy using tax payers money.

^^First of all you need to be structured in your arguments.We are discussing Nigeria here. Yet you are the one that has been completely going off on a tangent by bringing up other countries, perhaps to create diversionary arguments. I refuse to go down that route.
In any case the basic issue here is that you lot have yet to come up with an alternative viable economic model for the country

pcicero:

This socio -economic quagmire is the outcome of the fusion of neo- imperialists, military political adventurists, pseudo economists, quasi- political leaders and other forms of nepotism and unbridled brigandage that has pervaded the country's socio- political firmament.

This is an example of the drivel some people have been coming up with on this thread. A lot of slogans and cliches but, as a guide to policy, absolute rubbish!

tensor777:

^^First of all you need to be structured in your arguments.We are discussing Nigeria here. Yet you are the one that has been completely going off on a tangent by bringing up other countries, perhaps to create diversionary arguments. I refuse to go down that route.
In any case the basic issue here is that you lot have yet to come up with an alternative viable economic model for the country

oh, i get it when the other person exposes a hole in your argument , you accuse the other person of "going off on a tangent" - yes we were talking about nigeria but we were also talking about capitalism which as you know does not exist only in nigeria, your argument is that it is the only sustainable economic model worth having, and in order to rebut this falsehood i along with some other posters gave examples of countries where it has been an unmitigated failure, so i dont know where you got this idea that i was going off on a tangent.

cap28:

- it was the tax payers who had to bail out the banks - these banks were not left to the whims and caprices of the free market they were SAVED by tax payers, Obama took $700b of tax payers money to bail out banks that were on the verge of bankruptcy , Brown did the same in england so you are contradicting yourself. The royal bank of scotland, northern rock, bradford and bingley all these banks were saved from bankruptcy using tax payers money.  

If and when Nigeria builds up its tax revenue then we can debate whether bail-outs are the answer to the inherently cyclical nature of economic and financial growth.
For now, it is more important for the FGN to encourage foreign investment and consequently not act as a kind of Santa Claus figure to inefficient companies.

cap28:

oh, i get it when the other person exposes a hole in your argument , you accuse the other person of "going off on a tangent" - yes we were talking about nigeria but we were also talking about capitalism which as you know does not exist only in nigeria, your argument is that it is the only sustainable economic model worth having, and in order to rebut this falsehood i along with some other posters gave examples of countries where it has been an unmitigated failure, so i dont know where you got this idea that i was going off on a tangent.

Yes you have not been able to stick to main issues raised by Ms Odumosu's long-winded tirade against free trade and globalisation.
Indonesia is an example of a country that has achieved NIC status by adhering very closely to free market principles. Now can you mention just one country that has developed through communism or socialism?

tensor777:

If and when Nigeria builds up its tax revenue then we can debate whether bail-outs are the answer to the inherently cyclical nature of economic and financial growth.
For now, it is more important for the FGN to encourage foreign investment and consequently not act as a kind of Santa Claus figure to inefficient companies.

but dont you see you are contradicting yourself again because you are implying that its okay for the govt to step in and assist banks using tax payers money even after they have behaved in a greedy irresponsible and reckless manner but the govt should adopt a non interventionist role and allow market forces to prevail where these services benefit the public.  

the UK and US govt DID act as a Santa Claus figure by giving billions of dollars in tax payers money to these banks insted of allowing them to fall into bankruptcy.

^^You brought up the issue of bail-outs not me. As I referred to in my post, that issue  is purely a hypothetical exercise in the Nigerian context.
However you are comparing apples and lemons in the sense that the Western countries you mentioned CAN afford to bail-out failed banks.

tensor777:

Yes you have not been able to stick to main issues raised by Ms Odumosu's long-winded tirade against free trade and globalisation.
Indonesia is an example of a country that has achieved NIC status by adhering very closely to free market principles. Now can you mention just one country that has developed through communism or socialism?

well why dont  you try answering my original question which was - if socialism is such a bad thing why did obama and brown appropriate over $700billion of tax payers money with gordon brown sinking  £500b of taxpayers money into several british banks, the really awful thing is that in america goldman sachs actually used over $7billion out of this money to pay banker's bonuses!!! so effectivley money was taken from the masses to pay people who are already fabulously rich.

this is where your scathing criticism of socialism does not make sense, if it is anathema for govt to be involved in regulating the market and deregulation is the key why were failing banks not simply left to go bankrupt, why were they saved through govt bailouts?

tensor777:

^^
As for your points, I have to say I do not agree with basic thrust of your arguments. In a free market system capital and skilled labour should be free to move wherever they will get the highest return, It would be very unusual for any one country to "have it all" so to say.

Well free market won't work in America's favour don't you get it? Already there are American companies moving to Mexico cause labour is cheaper but 90% of the consumers are Americans. The free market will hurt America so bad, it will be hard to recover. Many jobs has already been shipped overseas not because no one in the US wants to do them but because no one will do them for the dirt cheap rate they are doing them in India and China. Now when this products are finished the consumers are still majorly Americans. Free market hurts the economy so bad mehn. Over 2million jobs shipped overseas within 2008 and 2009. Americans need jobs too. Do you know how much apple makes on each Iphone they sell? Go to Japan and you'll know how much it costs them to manufacture one. So cheap and easy that if Apple requires 250k Iphones, their factory can manufacture 500k and rebrand 250k for Local markets and sell it for a rate the locals can afford not the x6 price Americans are paying for it. Free market is shi!!t!! It's need extensive regulations too. So you are saying someone can go and manufacture something elsewhere and sell it for tripple the price in the economy he shipped jobs away from? Which customers will he or she have? Broke customers. That's when credits comes in and people just keeps owing and owing.

Dude don't be like paddy lo please. World economy is so complex that no single principle is worth it unless a bunch of principles put together with every keeping the others in check.

tensor777:

^^First of all you need to be structured in your arguments.We are discussing Nigeria here. Yet you are the one that has been completely going off on a tangent by bringing up other countries, perhaps to create diversionary arguments. I refuse to go down that route.
In any case the basic issue here is that you lot have yet to come up with an alternative viable economic model for the country


This is an example of the drivel some people have been coming up with on this thread. A lot of slogans and cliches but, as a guide to policy, absolute rubbish!

I would not want to go personal with you so i'll try as much as possible to stay focused on the issue being discussed.
How much do you know about governance in Nigeria? Do you know how much is paid to a Councillor (who probably has only Primary School Certificate )for doing nothing? The truth is that we know that the nation has enough resources to cater for most of its needs, only that the politicians live on the people's collective wealth without remorse.
I still maintain that there should be accountability in the system before we rush to recommend any neo-imperialistic policy.

You keep talking of increasing tax revenue, i don't need to be in the UK or USA to know that the government can only demand more if it has spent what it has judiciously. When i said state welfarism, it suggests that the government should be alive to its responsibilities of providing basic amenities and also regulations for socio-economic activities. I am not against private ownership of wealth or business enterprises, i only want the government to protect its citizens from predatory economic practises. So what cliche or verbosity are you referring to?

BTW, it seems the OP had you in mind when he started the thread.

^^Can you imagine the kind of statements you are coming up with? From your own statements you are very bitter and disgruntled about the quality of service rendered by government officials yet somehow you expect the same government to deliver quality services and that without any meaningful reform! 

More specifically what we have been arguing here is that reform itself would eventually lead to a better quality of life for the ordinary Nigerian citizen. I am not even going to attempt to paraphrase Paddy Lo's excellent posts but you can go over them if you need clarification.

9jaganja:

Well free market won't work in America's favour don't you get it? Already there are American companies moving to Mexico cause labour is cheaper but 90% of the consumers are Americans. The free market will hurt America so bad, it will be hard to recover. Many jobs has already been shipped overseas not because no one in the US wants to do them but because no one will do them for the dirt cheap rate they are doing them in India and China. Now when this products are finished the consumers are still majorly Americans. Free market hurts the economy so bad mehn. Over 2million jobs shipped overseas within 2008 and 2009. Americans need jobs too. Do you know how much apple makes on each Iphone they sell? Go to Japan and you'll know how much it costs them to manufacture one. So cheap and easy that if Apple requires 250k Iphones, their factory can manufacture 500k and rebrand 250k for Local markets and sell it for a rate the locals can afford not the x6 price Americans are paying for it. Free market is shi!!t!! It's need extensive regulations too. So you are saying someone can go and manufacture something elsewhere and sell it for tripple the price in the economy he shipped jobs away from? Which customers will he or she have? Broke customers. That's when credits comes in and people just keeps owing and owing.

Dude don't be like paddy lo please. World economy is so complex that no single principle is worth it unless a bunch of principles put together with every keeping the others in check.

This post is actually about the Nigerian economy, but in fairness to you I will go over the main thrust of your argument. The main theme you seem to keep going on about on this particular thread is the location of production/manufacturing facilities. That is understandable, in that  production is in fact the most visible aspect of the activities of a business.

But there are other areas which are important in the sense that they add value to private companies and employ millions of Americans. They are:-

1) Research and Development;
2)Engineering and Design;
3)Marketing and Advertising.

As I said before capital should be free to move to countries where they envisage they will get the highest rate of return. In this scenario, American companies find it worthwhile to locate their manufacturing facilities in the more efficient countries of the Pacific Rim. (The efficiency arises mainly from lower labour costs per hour.)

Moreover, this means that the finished goods are more affordable to American consumers.

Just commenting as an observer, I have the impression that tensor777 and paddylo avoid answering direct questions that pick a hole in their argument.

I am not saying that their arguement is wrong either way. I am just saying that after reading through the posts they havent been able to directly answer the questions that challenges their arguement from odumorun and cap28.

Just my opinion.

ssshhhh@Silentc

Why did you have to mention that? Now you are probably going to get PROCESSED for mentioning the obvious again . . . Roflmao!!

This discussion has gone down so many bends, I don't even know what it is truly about anymore.

tensor777:

This post is actually about the Nigerian economy, but in fairness to you I will go over the main thrust of your argument. The main theme you seem to keep going on about on this particular thread is the location of production/manufacturing facilities. That is understandable, in that  production is in fact the most visible aspect of the activities of a business.

But there are other areas which are important in the sense that they add value to private companies and employ millions of Americans. They are:-

1) Research and Development;
2)Engineering and Design;
3)Marketing and Advertising.

As I said before capital should be free to move to countries where they envisage they will get the highest rate of return. In this scenario, American companies find it worthwhile to locate their manufacturing facilities in the more efficient countries of the Pacific Rim. (The efficiency arises mainly from lower labour costs per hour.)

Moreover, this means that the finished goods are more affordable to American consumers.

Dude you have a hell of a wack structure of premises. Was Engineering and design of apple products done in India? NO. Was Engineering and design of Chevrolet Camaro (An American classic muscle car) done in Mexico ? NO. Same goes for the third one. I'm done with you tooo mehn; you haven't a clue. If every company startes shipping jobs abroad for cheap labour while thinking American are the ones that can afford the finished goods, who are they coming to? Broke consumers? In an economy where job loss is constant, who would want to spend? Already if I call for customer service for my phone, I'm surprised someone who can barely understand me picks up.

PADDY LO, WHERE ARE YOU ? WHY HAVE YOU RUN AWAY ?

Paddy Lo has done a runner, 4 posts I have placed on the board to date, debunking his lies about Indonesia, Socialism and the very unfree free market and not a response yet. Wetin happen now ?

Answer the questions, why have you left your subaltern Tensor 77, to hold the field, valiantly no doubt, but a futile endeavour none the less. Newly promoted captains are not supposed to hold the field for run away colonels. Or are you still searching for a website to copy and paste to answer the questions. Or perhaps you're waiting for your next economics 202 lecture to pick your professor's brains.

the questions again, a few of them are

QTS 1

if Capitalism is really based on the free market, why have 2 of the most powerful capitalist nations just sunk $1 trillion dollars of public money into saving a system that proved totally incapable of saving itself without this unprecedented act of state intervention - does this not prove Karl Marx's thesis that monopoly capitalism cannot exist except on the life support of state intervention


QTS 2
You said that Indonesia has been developed to a top 20 economy by the free market and enterprise with minimal government intervention, then why are 164 of the biggest enterprises in that country run by the state. Why does the Indonesian government fix the price of electricity, fuel and basic foodstuffs, while you advocate the exact opposite for Nigeria, deregulated utilities like NEPA, a free market for foodstuffs and removal of petrol subsidy.


QTS 3
You said China has been developed by the free market. But before the Communist takeover in 1948, China was a capitalist basket case with a level of illiteracy to rival the worst in the world. China is where it is today because it has one of the most educated populations in the world, a products of a science based educational system where the standard of O' Level mathematics a British educational investigation showed is the equivalent of a second year mathematics degree in the UK. No country can develop without science and engineering graduates and history has shown that only socialist educational policies can allow poor countries catch up skilled manpower wise with the west. Nigeria with its bourgeois educational system produces more lawyers than it does engineers. Are lawyers going to design our roads and bridges. The foundation for China's takeoff today was built in the communist era, which is why the people still allow the Communist party to rule, even though it implements free enterprise policies although heavily regulated, like fixing its exchange rate.


QTS 4
If America is truly a free enterprise economy why does it place trade barriers in the way of the more efficient primary producers in Africa and Asia while demanding an end to trade barriers in these countries to allow it flood them with its own cheap exports.

QTS 5
If Capitalism was natural to human instincts  because it has lasted 300 years, does that mean slavery was even closer to the human psyche - it lasted 3000.

THERE ARE STILL A FEW MORE POSERS, WHEN YOU FIND THE BALLS TO RETURN AND ANSWER THE ABOVE ONES SUCCESSFULLY, I WILL RAISE THEM.

9jaganja:

Dude you have a hell of a wack structure of premises. Was Engineering and design of apple products done in India? NO. Was Engineering and design of Chevrolet Camaro (An American classic muscle car) done in Mexico ? NO. Same goes for the third one. I'm done with you tooo mehn; you haven't a clue. If every company startes shipping jobs abroad for cheap labour while thinking American are the ones that can afford the finished goods, who are they coming to? Broke consumers? In an economy where job loss is constant, who would want to spend? Already if I call for customer service for my phone, I'm surprised someone who can barely understand me picks up.

I thought I was very clear in my post . Actually engineering and design of Apple products ,and software development of Microsoft products are still done in America. What is more the engineers and scientists so employed are much more well remunerated than the factory floor employees in the countries you mentioned. Considerably much more in fact.
The truth is American economy is now in the post-industrial era and consequently jobs in the software development industry, financial services industry and engineering design  industry are much more rewarding and available than anytime in the past. It is up to you to ensure that your own investment in education and skills development reflects these changes.

pcicero: Oops, i forgot to add that the advanced countries in the world have neither progressed through extreme capitalism nor outright communism but the hybrid of both principles as 9janja rightly pointed out which can be referred to as State Welfarism. That is what the Labour PM is doing in the UK and what Pres. Obama has just achieved with the Health Care Bill and other post- recession policies.
While i don't support regimented economic policies, i also don't advocate that a government should abdicate its responsibilities to economic hawks and predators.

A major reason why Nigerians are particularly bitter is because of the awareness that the country possesses the wherewithal (both human and natural resources) to lift it out of the economic doldrums it has found itself.
This socio -economic quagmire is the outcome of the fusion of neo- imperialists, military political adventurists, pseudo economists, quasi- political leaders and other forms of nepotism and unbridled brigandage that has pervaded the country's socio- political firmament.

Oyibo!