WE ALL GOTTA MAKE A CHANGE

Sir,

“We gotta make a change...it’s time for us as a people to start makin’ some changes. Let’s change the way we eat, let’s change the way we live and let’s change the way we treat each other”, Tupac in Changes.
I’m not a big hip-hop fan but I loved these lyrics the first time I heard them over 10 years ago.

That’s what we need in this country right now.

Problem

The basic problem in Swaziland is that we are broke, we consume more than we produce.
It’s ironic that for a country which swears by the Bible, we failed to learn the first lesson on fiscal policy in the Bible, the story of Joseph in Egypt (i.e in good times prepare for the bad times).
But coming back to the changes which are needed, we have to change the way we treat each other. There is a terrible culture in Swaziland where each person thinks for themselves. We have to adopt a situation where everyone thinks for the good of society.

Game theory would tell us that if each individual seeks the option best for them, society would be worse off. The best outcome comes when everyone does what’s best for society.
Otherwise we will keep on digging ourselves into a bigger hole.
Economic history would tell us that it’s not how much you have but it comes down to spending less than you earn.
Spain discovered the mountains of silver in South America but soon defaulted after all that wealth.

Unless we all get to do what’s best for society we will be in a worse off state with more short term debt.
As we saw in the USA, short term debt can destroy the global financial system, how much more a tiny country.
“You see the old way wasn’t working so it’s on us to do what we gotta do to survive”, Tupac in Changes.
I hope this will help in moving the country forward.

Student of Economic History 

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