Economics: Development and the role of Future Somali State

[Coloow]

Yaabka,

 

LOL@economist by academy! Well, I consider myself an evolutionary economist. And you?

 

Actually, it is usually the case that small business owners are those who bring innovations to the market. Hence, conceptually, entrepreneuralism could involve them.

 

Imitation is not neccessarily a bad thing- Innovations are not always incremental.

 

In regards to comparative advantage is not neccessarily a nexus of development. Some talk about competitive advantage (cf, Porter). I am currently using a term called revealed competititiveness (balassa index).

[Yaabka-Yaabkiis]

Oday,

 

Bro, argues never end as it never end among econmists, i am entrepreneur.

 

by the way using term called Revealed competititivenessis not bad thing -in that sense you saying ICT is not supporting other indutries?.

[Coloow]

Yaabka, what kind of inventions do your bring to the market place bro?

 

Are you involved in any business activity in somalia? Or is it Malaysia that you flourish?

 

I am just curious!

[Yaabka-Yaabkiis]

Oday,

 

What makes you curious about that?lol, i am working for entrepreneurial company in Malaysia--as a company we did bring alot of innovations to the market.

As economist using Revealed competititiveness theory, yOU first said in your argues ICT is value added industry then again you saying ICT don't support other industries.

Though You using Researchs and other articales to validate your argues-i doubt economist argue in such way you do!!

 

 

Yaabka-Yaabkiis

[Coloow]

Yaabka yaabkiisa (you really are one!).

 

 

How do economists argue? where did I say ICT is not "a value added2?

 

 

Eebowgeey, Economics (at least at the higher level) is a hetrogenous academic field. I have several schools of thoughts that have provided intellectual inspirations when it comes to the concept of entrepreneurship; The Austrian market failure school (e.g. Kirzner, Hayek) and Schumpeter's incremental/radical innovations and the entrepreneurship that might arise.

 

But I am not blinded by this conceptual approach; I see even the restaurant owner, the car repairman, the warato, the waranles as entrepreneurs (at least from a modern perspective).

 

That is why I tell ppl that I am a social scientist.

 

 

My inquiry into what kind of entrepreneurship you excute was merely retorical. I have been to Malaysia (the southern tip the singapore border- something like Johar!) and I am intenting to visit again- so I was thinking of establishing some contacts( nice meeting somalis around the globe-don't you think).

 

About revealed comparative advantages this is what my current research is about. By using a balassa index, it is easy identify the segments of trade that a country is good at. It relates to natural resources (and since this is a thread on economic development, I thought it had relevancy).

 

I read in you reply some kind of straw man phenomenon.

 

ICT is a generic technology (may add some confusion) which is a value added to many industries. If you have read economic history you may note that ICT has been extensively used in natural resource based industries. An economy solely based on the exploitation of one industry (the Indian economy- software) which is the thrust of our argument is bound to encounter severe repurcassions. Furthermore, ICT is a boom and bust indystry.

 

Anyway, I enjoy reading your replies- and stop doubting.

 

 

Let us turn our attention to somalia and economic development; do you foresee any viable development in somalia? what do you think are the major problems; institutional?

 

P.s have you read the piece on the economist on why India is not china in terms of economic growth?

[Yaabka-Yaabkiis]

Oday,

 

I also Really enjoy reading your replies too bro, no doubts at all. wlc to Johor baru, i will try to help if any needed.

 

as for the somalis case ,i will joing letter, You better then me in that(somalia case)you economist.

 

I will try to read that one, thanks for your recommendation.

 

Yaabka-Yaabkiis

[Chimera]

To the economists...how is GDP data collected? Puntland and Somaliland are both stable entities, what's preventing them from giving accurate and recent figures?

 

the estimated GDP ppp of Puntland is $1600, i estimate Somaliland to be roughly the same and the rest of Somalia somewhere around $1000

 

Puntland -(pop)- 2.5 million x 1600 = 4 billion

Somaliland -(pop)- 3.5 million x 1600 = 5.6 billion

Southern Somalia -(pop)- 5/7 million x 1000 = 5/7 billion

 

4billion+5.6billion+5/7 billion= 14.6 billion/16.6 billion

 

So Somalia's GDP is either $14.6 billion or $16.6 billion

[Coloow]

^^^^ brother don't blv statistics about somalia. It is a difficult task to estimate economic indicators in Somalia- and the figures that are circulating around cannot stand a sound scientific scrutiny.

 

Havin said that there are three observable facts about somalia;

 

1) The diaspora somalis are sending home money and this is crucial for a poor nation such as somalia.

 

2) There is an entrepreneurship based economy (conflict entrepreneurship, neccessity entrepreneurship and raw capitalism).

 

3) Aid , NGO involvment etc is also a source of economic activity.

[Chimera]

It seems the Economist agrees with me - the CIA world factbook figures on Somalia's GDP are bogus and outdated

 

After 17 years of anarchy and bloodshed, its GDP per person is still higher than Ethiopia's($1000) or Eritrea's($1000). Somali traders still influence the price of commodities across the region. The country limps on, even without much aid; the trade in livestock to Saudi Arabia during the haj is worth a lot more than foreign assistance.-Economist

[Sky Camel National]

I will be honest; I am a devote socialist (not communism there is a difference). Socialism is a combination of capitalism and communism. I do how believe just like Marx said that Capitalist has its place. It is obvious that capitalism on its own doesn't not work, evident with the United States having to bail out its own economy recently. For Somalia, it should focus on capitalist free market ideals for while but have a socialist agenda. Nations such as Norway and Sweden are highly socialist and they have the most stable state/ economy in the world. Once the Somali economy is booming it is wise to try to stabilize it because we live in a finite world. And in a finite world Capitalism is a contrition to the laws of physics.

A nation is its people, capitalism does not serve the interest of the people in the end.

[Paragon]

As a fellow (now disgruntled) Socialist (who'd held high ranks in the Socialist Workers ), I am obliged to welcome to this topic, Sky Camel.

 

Please elaborate on your topic, if you may. It interests my curiosity.

[Paragon]

Originally posted by Odey:

Yaabka,

 

LOL@economist by academy! Well, I consider myself an evolutionary economist. And you?

Odey, adeer I am back for this topic and issues related to it. Marka, bal soo noqo. Let's hear about your take on current financial crisis and the new regulatory role of the state.

 

I guess the developmentalist state proponents of S. E. Asia are now having a field day; their's is now the case.

[Paragon]

There could be some missing posts from this thread, I suspect. A mere suspicion indeed.