Business in Ghana

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Archive for October 31st, 2016

The Productivity Conundrum. Critical News, 30th October 2016

Posted by Business in Ghana on October 31, 2016

Sydney Casely-Hayford, thenewghanaian@gmail.com

It’s a political season, so we’re hearing a lot of the usual crap about the economy. Should we raise taxes or lower them? Negotiate trade agreements or abandon them? These are important questions, but they are not the central economic issue that we face today. Productivity is.

Many people keep asking me to state clearly what I think of the future of the economy of Ghana in combination with our politics, and at the expense of losing some readers, I put together some thoughts on the whys and the which way if we are to tread a new path.

If you ever read Dr Frimpong-Ansah’s (at one time Governor of the Bank of Ghana) book on the political economy of Ghana you will realize that he solution to our problems have never been very far from our doorstep. If Ivory Coast can show such dramatic success in a few short years, we have no excuse except poor and bad leadership. Ghana has been cursed with directionless leaders for too long.

We saw some productivity growth in the early independence days, and between 2000 and 2008 but it sputtered since then. What’s more, the prediction is that the productivity picture will get even worse in the decades to come, making it even harder to raise living standards. Read the rest of this entry »

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Posted in Critical Weekly News, Sydney Casely-Hayford, Uncategorized | 1 Comment »