Grasping volume and velocity of economics

THE EDITOR: “Volume” and “velocity” are crucial aspects of macroeconomics in all its dimensions: monetary, fiscal, inventory production and exchanges, factor diversity, balance of trade, consumption power, market growth, sector priming and so on.

Getting the concepts wrong or not paying due attention to them conceptually means that their realities will most likely get mismanaged. The same thing happens when the existing states of things and possibilities, in micro- and macro-economy, on the ground, are misunderstood or overlooked.

Former prime minister Manning had been making great strides, in the later years, to forming out multiple fields of our various economies and developing them. Unfortunately, the build-up of understanding was undone by his own party and the actualisation of new contexts was outdone by subsequent events.

Today, the energy sector is in disarray and under the pall of expatriation; labour is treated as always wrong and must only ever accrue according to “what labour deserves;” and the domestic economy is allocated resources under a doctrine of appendant existential necessity.

It accurately reflects how discussions play in some of the upper echelons with which the Rowley Government maintains close ties. If you suggest answers you are labelled “expert;” and if you don’t suggest them, you are “mean.” How does it defend our country against being at the free disposal of shifting policies of the US or its other allies or the rest of the world?

E GALY

via e-mail