A Quote by Ibrahim Babangida
The challenge as we saw in the Nigerian project was to restructure the economy decisively in the direction of a modern free market as an appropriate environment for cultivation of freedom and democracy and the natural emergence of a new social order.
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The New Order wants to implement democracy in economy. It is an order to achieve a social, political, economic, and cultural society with Pancasila and Belief in God Almighty as our moral values.
People have a hard time accepting free-market economics for the same reason they have a hard time accepting evolution: it is counterintuitive. Life looks intelligently designed, so our natural inclination is to infer that there must be an intelligent designer--a God. Similarly, the economy looks designed, so our natural inclination is to infer that we need a designer--a government. In fact, emergence and complexity theory explains how the principles of self-organization and emergence cause complex systems to arise from simple systems without a top-down designer.
It is not true at all that a free market will ensure a democracy. It doesn't. There must be a balance between a free market and some regulations which are essential in order to safeguard the interests of consumers and of people in general.
The market steers the capitalistic economy. It directs each individual's activities into those channels in which he best serves the wants of his fellow-men. The market alone puts the whole social system of private ownership of the means of production and free enterprise in order and provides it with sense and meaning.
The crisis of modern democracy is a profound one. Free elections, a free press and an independent judiciary mean little when the free market has reduced them to commodities available on sale to the highest bidder.
One reason for the primacy of the market in shaping the modern world is that it forces a reorganization of society in order to make the market work properly . When a market comes into existence, as Marx fully appreciated, it becomes a potent force driving social change.
I think of the old slavery, and of the way The Economy has now improved upon it. The new slavery has improved upon the old by giving the new slaves the illusion that they are free. The Economy does not take people's freedom by force, which would be against its principles, for it is very humane. It buys their freedom, pays for it, and then persuades its money back again with shoddy goods and the promise of freedom. "Buy a car," it says, "and be free. Buy a boat and be free." Is this not the raw material of bad dreams? Or is it maybe the very nightmare itself?
Let me say again that the relationship is asymmetrical: there's no democracy without a market economy, but you can have a market economy without democracy.
The public trust is at the core of both a free market economy and a democracy.
I find it quite useful to think of a free-market economy - or partly free market economy - as sort of the equivalent of an ecosystem. Just as animals flourish in niches, people who specialize in some narrow niche can do very well.
What type of new economical system can organize this system? There is another sector in our life, that we rely on every single day, that are absolutely essential: the social commons, the social economy. It is all the activity we engage in to create social capital. It doesn't create capital market. Social commons is growing faster than the market place. It is growing faster than the market place. The social commons include any activity that is deeply social and collaborative.
I'm excited about the emergence of tokens, and while I'm skeptical of many of the early projects being launched, I do believe we are seeing the emergence of an entirely new asset class that will foster the growth of a new investment community, a new set of social networks, and most importantly, a new class of technologies.
A free and open Internet is essential to our democracy, economy, and modern way of life.
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
Not all political actors share our vision of fighting terrorism, lessening tensions in the region and focusing on building the economy. It is natural that they would challenge the government, but we have fought every challenge effectively. The daily ups and down of democracy should not be interpreted as lack of stability.
The great multinationals are unwilling to face the moral and economic contradictions of their own behavior - producing in low-wage dictatorships and selling to high-wage democracies. Indeed, the striking quality about global enterprises is how easily free-market capitalism puts aside its supposed values in order to do business. The conditions of human freedom do not matter to them so long as the market demand is robust. The absence of freedom, if anything, lends order and efficiency to their operations.
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