e-Con e-News

Home markets, auto parts and corruption

Summary

Corruption is a favorite theme for liberals and the capitalist media who go on and on about it, but not capitalism. They also forget the private sector is far more corrupt than the public sector.

  • Save

Every single published economist, of the so-called Right or Left, cries out for exports! While there is not one word about taking control of our own home market! Not one word!

Most people do not even know what the “home market” means and why it is so important. The corporate media will also never explain what ‘home market’ is or what it means? Instead they will tell us that what matters is to get ‘preferential” treatment for access into the markets of the US and EU.

Two topics trumpeted loud loud loud in the capitalist media every day, if not every nanosecond online, are the cries that Sri Lanka must ‘export export export’ and must allow public-private partnerships (PPP). Both exports and PPP have been unmitigated disasters for the country!

The colonial economy is and was all about ‘exports & imports’ and lots of ‘foreign direct investment’, which left us the most impoverished country in Asia, contrary to the hosannas about the great English legacy.

And weren’t the plantations all PPP – with the English army invading the Udarata and their officials, priests, judges and companies stealing the land? So while they oppose state planning, here is the real PPP the capitalists are planning for the post-pandemic future:

‘The important thing to realize about free-market economics and libertarianism, is libertarians advocate central planning; the Chicago School of monetarists advocate central planning; the free marketers want central planning. The banks are the planners, not the government. They want to exclude the government from planning, except to the extent that they can take over the government, as Trump has done, and plan all of the income to be transferred to themselves from the rest of the economy. So we’re going to have a much more centrally planned economy by a coalition of monopolies and the government. In the 1930s, that was called fascism – what we call a “public-private partnership”.’ – Michael Hudson

And what do we make of claims by Sri Lanka’s Automotive Component Manufacturing Association  about making auto parts, with their dreams of even exporting to Africa! What will the importers who glut Panchikavatte have to say about this? Then there’s “the Government’s decision to increase the Loan to Value  ratio on locally assembled vehicles as major boost to domestic industry as well as tap export markets…”  Is it another media fraud like the Volkswagen snowjob? Does not real industrialization require local supply chains? Where have these auto parts makers invested their profits? And what of our mining & steel industry? It’s more than making a few parts, it’s about an entire industrial eco-system! In the absence of a class dedicated to capital accumulation, it is the state that must invest in industrialization.

 Let’s talk of corruption now. Corruption is a favorite theme for liberals and the capitalist media who go on and on about it, but not capitalism. They also forget the private sector is far more corrupt than the public sector.

“War is robbery and commerce is generally cheating,” said Benjamin Franklin

Over the last many decades, imperialist countries financed social science into a huge business, with the so-called philanthropic foundations (Ford, Rockefeller, etc) and their World Bank, etc, also funding prolix studies, on war, on peace, on refugee camps, on roads, education, paddy, irrigation, water management, administration, harbors, currency, fisheries, while these experts then demand privatization and deregulation. Now they can also shed tears for unprotected workers who they manufactured en masse! Oh yes, they also fund prolix sermons against corruption. NGOs have been  massive income-generating schemes for the ‘middle-class’ children of the oligarchy, who could not get government jobs. These car-driving restaurant-hopping social scientists analyze, dissect, psychoanalyze, scrutinize and probe into underdevelopment, ad nauseam. They blame religion, family life, culture, Sinhala Buddhists… but never capitalism! Nor dare offer scientific socialism as a solution.

So no, ee has no interest in ‘corruption’… ee only wishes more of it will circulate within the country among workers and cultivators, if only to buy their votes, than end up in banks near Geneva, London or New York, to bolster stock markets!

Leave a Reply

Your email address will not be published. Required fields are marked *

Copy link
Powered by Social Snap