A Quote by Gautam Adani
When you are in the infrastructure sector, you've to work along with the government.
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It's always been government's role to protect the security of the nation. And cyber-attacks is a security issue, from our perspective. And it's a security issue of particular concern with respect to the nation's core critical infrastructure, the infrastructure everyone relies on, the energy sector, the telecommunications sector, the banking sector.
Private sector has no issue in coming into infrastructure sector. They know very well that infrastructure is one area that can give you very steady long-term returns.
In the past we entrusted money to the government sector and the government sector simply did not spend the money wisely. And that is why we need reforms, but the government sector is not being reformed.
In World War II, the government went to the private sector. The government asked the private sector for help in doing things that the government could not do. The private sector complied. That is what I am suggesting.
I mean, the 1930s are the birth moment of modern public sector, government-driven infrastructure spending.
If you work for the federal government, the average salary is $7,000 higher than the private sector. Something's wrong with that, when you're making more money working for the government than you can working in the private sector.
Americans cannot maintain their essential faith in government if there are two Americas, in which the private sector's work subsidizes the disproportionate benefits of this new public sector elite.
Government investment unlocks a huge amount of private sector activity, but the basic research that we put into IT work that led to the Internet and lots of great companies and jobs, the basic work we put into the health care sector, where it's over $30 billion a year in R&D that led the biotech and pharma jobs. And it creates jobs and it creates new technologies that will be productized. But the government has to prime the pump here. The basic ideas, as in those other industries, start with government investment.
If you look at the fact that the best chance we have for a good economy is the private sector. The government cannot create jobs. If the government could create jobs, then Communism would have worked. But didn't work. So what we have to do is allow the private sector and the entrepreneurial spirit to lead us back to a job-filled recovery.
I believe the private sector and small businesses drive our economy, and that means the federal government should work to ensure the private sector is as robust as possible.
That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In principle the government is supposed to make regulations that help the economy over time. But once it's taken over by the financial sector, the government lives in the short run too.
Living standards in both the public and private sector have to be brought down. The private sector has to sell more abroad and consume less at home. The government sector has to get closer to just spending what it can collect in taxes.
The biggest difference between the private sector and public sector is in the private sector, there's a sense of urgency because you have customers and you have competitors. Whereas in government, one of your major objectives is to not make any really big mistakes.
The oil and gas sector in the North Sea does have a strong future if we do the right things now, but we've got to make sure that the infrastructure is right to support the sector, but also to support, over the next few years, diversification as well.
The Russians are clearly already engaged in a proxy war against the government of Ukraine. And that is something that we and the rest of the world have actively condemned and sanctioned Russia already heavily for, particularly the United States, as we have imposed now meaningful, tough sanctions in critical sectors, including the defense sector, the financial sector, and the energy sector.
Liberia has to take primary responsibility for its own reform agenda. But our resources are limited. We have to attract the private sector to get jobs to our people that will enable us to raise the government revenue, but to do that we have to build infrastructure. It's a very complex problem of development we are facing here.
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