The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» අනං මනං! #/+?.<>
Food for Thought EmptyYesterday at 3:31 pm by nihal123

» Thread for News on CSE and SL Economy
Food for Thought EmptyYesterday at 9:04 am by ruwan326

» Devolution of power, civil wars, altruism, nepotism in animal world
Food for Thought EmptyWed Oct 16, 2019 1:22 pm by yellow knife

» East West properties
Food for Thought EmptyWed Oct 16, 2019 12:06 pm by yellow knife

» RCL - Royal Ceramics
Food for Thought EmptyMon Oct 14, 2019 12:47 pm by seek

» Performance of the Market-Weekly
Food for Thought EmptySat Oct 12, 2019 4:29 am by ruwan326

» Confidence to boom after election – CBSL Governor
Food for Thought EmptyFri Oct 11, 2019 4:09 pm by Backstage

» Sri Lanka among top 20 rising stars of world trade
Food for Thought EmptyFri Oct 11, 2019 4:08 pm by Backstage

» CLND Not to miss
Food for Thought EmptyThu Oct 10, 2019 9:24 am by ruwan326

» Dividend Announcement
Food for Thought EmptyWed Oct 09, 2019 4:59 pm by Rana

» අපි නොදන්න ගීතයක කතාව
Food for Thought EmptyFri Oct 04, 2019 11:55 am by nuwanmja

» මූඩීස් ප්‍රකාශය පිළිගන්න බැහැ – මහ බැංකුව කියයි
Food for Thought EmptyWed Oct 02, 2019 6:46 am by nihal123

» ආර්ථික වර්ධනය 2.7% ට බසී
Food for Thought EmptyTue Oct 01, 2019 1:29 pm by nihal123

» Ranil agrees to give Sajith candidacy - AdaDetana
Food for Thought EmptyThu Sep 26, 2019 5:05 pm by mymoney

» Cracks in the Real Estate Sector
Food for Thought EmptyThu Sep 26, 2019 2:44 pm by chutiputha

» Films - To Watch List
Food for Thought EmptyFri Sep 20, 2019 8:38 am by Topcat

» ෆිනෑන්ස් බලපත්‍රය අවලංගුයි. අද සිට මුදල් ව්‍යාපාර බැහැ
Food for Thought EmptyFri Sep 20, 2019 7:53 am by serene

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Food for Thought EmptyThu Sep 19, 2019 4:33 pm by nuwanmja

» Easter Sunday Attack and Sri Lanka
Food for Thought EmptyThu Sep 19, 2019 12:49 pm by Ethical Trader

» Trading Journal
Food for Thought EmptyWed Sep 18, 2019 9:01 am by CK

» Thought for the day...
Food for Thought EmptyTue Sep 17, 2019 5:44 pm by sashimaal

» කැසිනෝ ව්‍යාපාරික රවී විජේරත්න, අර්බුදයට පත් MTD Walkers මිල දී ගැනීමට සැරසෙයි
Food for Thought EmptyMon Sep 09, 2019 7:47 pm by nihal123

» Happy Birthday
Food for Thought EmptyMon Sep 09, 2019 10:54 am by nuwanmja

»  Rajgama Heroes !
Food for Thought EmptySat Sep 07, 2019 10:24 am by කිත්සිරි ද සිල්වා

» Yahoo mail
Food for Thought EmptyFri Sep 06, 2019 5:38 pm by Rana

» Thread for News on International Markets
Food for Thought EmptyFri Sep 06, 2019 9:50 am by The Invisible

» JINS.N0000 ( Janashakthi Insurance PLC)
Food for Thought EmptyFri Sep 06, 2019 9:47 am by The Invisible

» Browns Investments update
Food for Thought EmptyFri Sep 06, 2019 6:00 am by sanjulanka

» Hayleys MGT
Food for Thought EmptyFri Sep 06, 2019 5:55 am by The Invisible

» SEYB.N0000 ( SEYLAN BANK PLC )
Food for Thought EmptyThu Sep 05, 2019 8:47 pm by soileconomy

» Tourism Sector
Food for Thought EmptyThu Sep 05, 2019 6:08 pm by NIRMALSG

» TJL.N0000 (Textured Jersey Lanka PLC.)
Food for Thought EmptyTue Sep 03, 2019 6:12 pm by Ethical Trader

» UBC Union Bank of Colombo
Food for Thought EmptyTue Sep 03, 2019 12:09 pm by The Invisible

» Obituary Notice.
Food for Thought EmptyMon Sep 02, 2019 10:34 pm by කිත්සිරි ද සිල්වා

» Thread for News on Local and Foreign Politics
Food for Thought EmptySat Aug 31, 2019 5:13 pm by The Invisible

» Sri Lanka bank profitability under pressure: Moody’s
Food for Thought EmptySat Aug 31, 2019 8:44 am by The Invisible

» ‘වැඩකාරයාගේ නමත් සිරිසේන’ කියලා හිනාවුණා
Food for Thought EmptyFri Aug 30, 2019 4:05 pm by sanjulanka

» 8000 Post Club | Celebration of a Great Milestone කිත්සිරි ද සිල්වා
Food for Thought EmptyThu Aug 29, 2019 7:17 pm by කිත්සිරි ද සිල්වා

» In the Meantime, Within Our Shores !
Food for Thought EmptyThu Aug 29, 2019 10:37 am by කිත්සිරි ද සිල්වා

» Sri Lanka to call for bids to develop Mannar Basin natural gas find
Food for Thought EmptyTue Aug 27, 2019 4:32 pm by nuwanmja

» “බිරිඳගේ සහ පෙම්වතියගේ වෙනස මොකක්ද?”
Food for Thought EmptySun Aug 25, 2019 11:51 pm by sanjulanka

» The Central Bank of Sri Lanka Reduces its Policy Interest Rates
Food for Thought EmptySat Aug 24, 2019 4:26 am by Ethical Trader

» JKH - 155/00 Breakout is pending
Food for Thought EmptyFri Aug 23, 2019 2:21 pm by pjrngroup

» Tokyo as at 21.08.2019 Morning
Food for Thought EmptyWed Aug 21, 2019 10:07 am by nisashi

» What Would You Do?
Food for Thought EmptyMon Aug 19, 2019 1:02 pm by කිත්සිරි ද සිල්වා

» Back of the Legends
Food for Thought EmptyMon Aug 19, 2019 10:13 am by Topcat

» NTB.N0000 (NATIONS TRUST BANK PLC)
Food for Thought EmptySun Aug 18, 2019 10:33 pm by lanka

» Melstacorp (MELS)
Food for Thought EmptySun Aug 18, 2019 8:33 pm by The Invisible

» Cargills (CARG)
Food for Thought EmptySun Aug 18, 2019 8:26 pm by The Invisible

» SHL.N0000 (Softlogic Holdings PLC)
Food for Thought EmptySun Aug 18, 2019 8:14 pm by The Invisible

October 2019
SunMonTueWedThuFriSat
  12345
6789101112
13141516171819
20212223242526
2728293031  

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Food for Thought

Go down

Food for Thought Empty Food for Thought

Post by කිත්සිරි ද සිල්වා on Sat May 26, 2018 10:04 am

What Are We Borrowing For?

By Ranil Senanayake –


In the current tussle for political credibility, borrowing money for
‘development’ is equated with success. All politicians laud
‘development’ without any idea of what it means. The question ‘what is
development’ was asked as early as February 1978, but our ‘leaders’,
from that time onwards never had a answer and are still stuck in the
same old rut of blind consumerism, enriching themselves and their
cronies while getting the population deeper and deeper into debt.

Meaning of Development (1978)

Development and progress are words that we are very familiar with and
rightly so. As a nation all our hopes and aspirations are centred
around the promises attendant on these processes. Yet recently there
have been some questions on the values of ‘development’, and as in
every controversial issue, the battle lines have been drawn. the
combatants are, as is usual in these affairs, mostly from developed
countries. the people of developing countries, more often than not,
are mere witnesses to these esoteric exchanges. I do not intend to
imply that these arguments are not valid; rather I would like to draw
attention to the fact that often both points of view have their
references deeply rooted in ‘developed’ or Western technological
thought.

Development in the context of the current usage of the word certainly
seems wedded firmly to Western technological thought. Whether we use
it to describe an economic order or a social order, the roots are the
same. e word development carries other connotations

in the context of present usage. It suggests that the country to be
‘developed’ is some way inferior to the model to which it aspires to
become. the point here is: inferior by whose standards? To an
industrialist from a Western country, a poor village in the third
World does indeed need to be developed. A view, that will more often
than not, be held by the rulers of the same country. To quote Richard
Gott (CDN 1978).

“With the formal ending of colonial rule in all three continents of
the third World, political independence was granted a tiny elite
trained not to question the framework within which the world economy
operated.”

It is this elite that laid the foundation for education of people in
those countries, thus the value system operating and transmitted was
certainly not endemic. With this perspective in mind, lets us attempt
to look at ourselves.

We in Sri Lanka are continually talking about development. I believe
that in the end this merely means an increase in industry and
consumerism. It most certainly could not refer to a cultural or a
philosophical development.


A country in which a major part of her population comprehends
philosophical concepts that are addressable only by a minority of
scholars in the West must certainly be, in comparative terms, more
developed. An argument could be made that we also do not need to be
more developed in our agriculture. Does an agricultural system that
does not rely on any form of energy subsidy, other than biological
energy, need to be ‘developed’ so its productivity becomes reliant on
subsidized energy?

In the so-called developed world active research is under way for
systems which are not subsidised by fossil fuel. We have it – and yet
want to disrupt it in favour of energy intensive agricultural
practices. Could this trend be attributed to the fact that most of our
scholars are trained to look at problems in a purely Western
technological perspective? Of course, all of us want to utilize our
training for national good, but we should be careful and try to
objectively evaluate the long-range repercussions of increased energy
dependence.

Hartford Tomas (CDN 1978), who is a proponent of third World
development, comments on the help given by developed countries to the
‘to be developed countries’:

“The philosophy of development from the grassroots comes up from the
professionals, in Robert McNamara’s annual speeches and in the work of
Schumacher’s intermediate development group.”

Well now, with all due respect for this illustrious gentlemen, I
submit that the grassroots existed long before Robert McNamara’s
discovery of them, and that if one reads Schumacher’s Small is
Beautiful, one gets the distinct impression that Dr. Schumacher took
many beautiful things from so called ‘underdeveloped’ countries. I do
not mean to belittle the great words of these scholars, but wish to
point out that they are addressing the developed world. So then, what
help do we need from the professionals? To tell us what we already
know about ourselves in ‘developed jargon’?

So we are still confronted with the dubiousness of the meaning of
development. It would seem bizarre indeed if it transpired that we
have been developing for the past 30 odd years mainly in a Western
technological perspective. Some indication of our development can be
addressed if we look at these questions in terms of the goals
identified by those who describe the path. One of the standard answers
to the development question is: the goal is economic growth. On this
point Prof. Dudley Seers says, “in fact, it looks as if economic
growth may not merely fail to solve social and political difficulties,
certain types of growth can actually cause them”.

An important question is: who accepts responsibility for the results
of this monomania for economic growth? Are we, by changing the value
system, creating an artificial need for goods and services non-
essential to our well-being as measured by any endemic standards? It
may be useful to reflect again on a statement by Prof. Seers: ‘the
social barriers and inhibitions of an unequal society distort the
personalities of those with high incomes no less than those who are
poor. Trivial differences of accent, language, dress, customs etc.
acquire an absurd importance and contempt is engendered for those who
lack social graces, specially country dwellers’.

Now let us take a case-in-point. Last week in the suburbs of Colombo,
five youths were picked up for theft by the police. they each had on
them at least Rs. 1000 worth of apparel (imported shirts, imported
trousers, imported wristwatches, imported socks). their occupation?
they were unemployed. How did they earn the money with which to buy
the goods? they stole produce and other sellable items from the
village. What was their need? they had to maintain their status
(tathwaya). Is this development? How did these values come about? A.M.
Hocart, who was the head of the Ceylon archaeological survey, wrote
some poignant words that bear relevance to these phenomena.

“Here is a politician who appeals for help in disturbing the pathetic
contentment of Asiatic peasants and is ready to pillory as an inhuman
wretch anyone who may wish them to remain contented. Contentment has
become a crime, because it opens up no markets for goods or for
doctrines, woe to the man who does not want more fish, more art, more
science, more education, more speed. Trade has no use for him,
politics and science abhor him. The men after their own heart is the
one who can make two desires grow where only one grew before. What,
though he threw to the wind, the old fashion restraints and time
honoured virtues? What though he stoops to cringing or insolence, to
false words, even to corruption? He is hailed as a creative artist for
he has created desire.”

I wonder how truthful an advocate of a Buddhist righteous society
would be, if he believes in development in this context?

We are often told we cannot remain apart from the world’s progress,
and as illuminating examples of progress in the third World we are
shown countries like Singapore, Hong Kong or South Korea. Have those,
who want us to join the mad race of consumerism, really looked beyond
the glitter and the tinsel? Do we want for ourselves a ceaseless
struggle for the goods we will be taught are essential to our
well-being? In a world whose energy resources are constantly
dwindling, does it not seems obvious what the fate of energy dependent
societies will be?

My discussion is fraught with questions, and I believe that they are
valid questions. As questions I am sure that they will receive replies
from the people whom we, the public, have faith in entrusting our
futures to. I am equally sure that I, among many others, will gain
tremendous knowledge from these answers. This may serve to bring the
dialogue of ‘development’ from the ‘developed’ to the ‘to be
developed’ (us, in this context). For in the final analysis, demanding
acknowledgement of individual responsibility for influencing national
processes may serve to act as a safety valve on the social movement
called development.

Forty years later do we have even one politician who can comprehend or
respond to these questions ?

_________________
I am the wisest man alive, for I know one thing, and that is that I know nothing.
Socrates
කිත්සිරි ද සිල්වා
කිත්සිරි ද සිල්වා
Top contributor
Top contributor

Posts : 8041
Join date : 2014-02-23
Age : 61
Location : රජ්ගම

Back to top Go down

Food for Thought Empty Re: Food for Thought

Post by Ethical Trader on Sat May 26, 2018 11:24 am

Timely one. Thanks.
Ethical Trader
Ethical Trader
Top contributor
Top contributor

Posts : 5521
Join date : 2014-02-28

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum