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ECONOMYNEXT – In Sri Lanka politicians are blamed for the country’s economic ills and rising default risk, but it is only partly their fault, as the general public is systematically misled by economic advisors and bureaucrats who are trapped in Keynesian Mercantilism that dates back to the 1920s.
The Mercantilists have also lit a fuse under the monetary system with Modern Monetary Theory.
Why do policy makers think that imports are a ‘Problem’ with a capital P?
Why does Sri Lanka try to compress trade and imports through controls? And fail? Why does Sri Lanka try to ‘save’ foreign exchange instead of stopping the creation of excess rupees?
Why do people think exports are good (postponed consumption or austerity) and imports are bad (actual consumption of the proceeds of exports)?
Why is Sri Lanka now in danger of default? Why did the last administration raise so much foreign debt though ‘Active Liability Management’?
Why did the last administration stop gold imports and re-exports? Why did the last administration stop car imports?
Why did Sri Lanka sell rupee debt at higher yields than dollar debt?
Why are import substitution rackets promoted now so that a group of cronies can get unbelievably rich at the expense of an entire population?
Why are Mercantilists (who go by the label economists in Sri Lanka) so obsessed with the current account deficit?
https://economynext.com/sri-lankas-path-to-default-paved-by-spurious-keynesian-transfer-problem-and-mmt-bellwether-79749/
The Mercantilists have also lit a fuse under the monetary system with Modern Monetary Theory.
Why do policy makers think that imports are a ‘Problem’ with a capital P?
Why does Sri Lanka try to compress trade and imports through controls? And fail? Why does Sri Lanka try to ‘save’ foreign exchange instead of stopping the creation of excess rupees?
Why do people think exports are good (postponed consumption or austerity) and imports are bad (actual consumption of the proceeds of exports)?
Why is Sri Lanka now in danger of default? Why did the last administration raise so much foreign debt though ‘Active Liability Management’?
Why did the last administration stop gold imports and re-exports? Why did the last administration stop car imports?
Why did Sri Lanka sell rupee debt at higher yields than dollar debt?
Why are import substitution rackets promoted now so that a group of cronies can get unbelievably rich at the expense of an entire population?
Why are Mercantilists (who go by the label economists in Sri Lanka) so obsessed with the current account deficit?
https://economynext.com/sri-lankas-path-to-default-paved-by-spurious-keynesian-transfer-problem-and-mmt-bellwether-79749/
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