Re: Nkrumahism, The Can Of Worms I Opened–Capitalism 3

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Prof Lungu 8 years ago

We know a bit about Texas, USA, having attended "Texas Southern University", too!

So, we ask you to see and read some history that bring you face-to-face with Sandra Bland, the young woman found dead in a jail cell in Wall ...
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We know a bit about Texas, USA, having attended "Texas Southern University", too!

So, we ask you to see and read some history that bring you face-to-face with Sandra Bland, the young woman found dead in a jail cell in Walla County, Hempstead, Texas, a case now under investigation by the FBI.

In the 1870s, the Texas legislature established 2 University systems:
A Socialist University System for Whites
A Capitalist Agricultural College System for Blacks.

See how it is all related!

READ (from Kwarteng's post):

TEXAS
"...Another fund, the $17.5 billion Permanent University Fund, owns more than two million acres of land, the proceeds of which help underwrite the state’s public university system..."

THE HISTORY:
The Texas Permanent University Fund (PUF) was set-up around 1876.

1. The Texas Constitution defines the Available University Fund (AUF) as consisting of distributions from the total return on all investment assets of the Permanent University Fund (PUF) including the net income attributable to the surface of PUF land.

2. The Texas Constitution limits the discretion of the U. T. System Board of Regents to determine the amount of PUF distributions in any given year by stipulating that annual distributions cannot exceed 7% of the average market value of PUF investments. In addition, distributions cannot increase year to year if the purchasing power of PUF investments has not been preserved over rolling 10-year periods.

3. Not all public universities and colleges benefit from the fund.

Beneficiaries Are:
U. T. Arlington
U. T. Austin
U. T. Dallas
U. T. El Paso
U. T. Permian Basin
U. T. San Antonio
U. T. Tyler
U. T. Southwestern Medical Center
U. T. Medical Branch - Galveston
U. T. Health Science Center - Houston
U. T. Health Science Center - San Antonio
U. T. M. D. Anderson Cancer Center
U. T. Health Science Center - Tyler
U. T. System Administration

4. Further: Pursuant to the terms of the Texas Constitution, U. T. Austin is the only U. T. System institution other than U. T. System Administration eligible to receive resources from the AUF for support and maintenance purposes.

5. ITEM: All other state universities are funded from the general fund - which makes it unequal, unreliable, and discriminatory.

6. In the same year (1876) the Texas legislature set-up the multi-million acre trust (for Whites), they set-up the “Agricultural and Mechanical" College system for Blacks.

Precisely, "The Board of Directors (of “Agricultural and Mechanical College system for Blacks) purchased the lands of the Alta Vista Plantation (1,388 acres), from Mrs. Helen Marr Kirby, the widow of the late Col. Jared Ellison Kirby, for the establishment of the State Agriculture & Mechanical College of Texas for Colored Youth."

Ms. Sandra Bland, who was died 2 weeks ago in Hempstead, TX after being arrested for failure to indicate a turn in her car, had just graduated from that school, now known as Prairie View A & M University.

The Texas legislature, in 1947, established “The Texas State University for Negroes, now known as Texas Southern University. (As some of you may already know, our Attorney Dr. Samuel Adjei Sarfo, earned his law degree from Texas Southern University's Thurgood Marshall School of Law).

In October 2000, Mr. Ooops Rick Perry, then Governor of Texas, signed an anti-discrimination consent decree with the U.S. Department of Education Office of Civil Rights "to make Prairie View A&M University an educational asset accessible by all Texans...(mandating)...creation of many new educational programs and facilities..."

Yes, Ghana, do not be fooled!

There is socialism in the United States, even in capitalist Texas, but for selected people, most of the time. (Maybe that is why they say Texas is deep RED, not BLUE).

Could we hypothesize that maybe if Ms. Sandra Bland had received the same opportunity to attend the richly-endowed Univ. of Texas, Dallas or Arlington, maybe, just maybe, she would not have found herself driving on a rural road in Walla County, that then resulted in her death in a jail, 3 days later.

Who Says There is No Socialism in Capitalist Texas?
Amankrado 8 years ago

I don't think common sense is really common as we use to say else people like Kwarteng and Prof(?)Lungu wouldn't have been displaying that gravity of stupidity.

I don't think common sense is really common as we use to say else people like Kwarteng and Prof(?)Lungu wouldn't have been displaying that gravity of stupidity.
Prof Lungu 8 years ago

When we published our essay titled "He Who Opens 'Can of Worms' Before Time Kills Tree of Light!", this past Sunday, and asked why the US had not bothered to privatize the power producer TVA/Hoover Dam, if capitalism was so g ...
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When we published our essay titled "He Who Opens 'Can of Worms' Before Time Kills Tree of Light!", this past Sunday, and asked why the US had not bothered to privatize the power producer TVA/Hoover Dam, if capitalism was so good for everything, little did we know that actually President Obama had proposed the same measure back in 2014, during the budget impasse called "Sequestration".

This article says Obama actually did propose!

But Republicans disposed!

Republicans, the "Original Capitalists", those mouthing "Free Enterprise", "Privatization" (of even prisons), Trickle-Down Economics Works, Fox News, etc., politicians and pundits from/for the so-called deep "RED STATES", would not have none of that "Obama jive".

READ: "...
Republicans blast Obama proposal to sell Tennessee Valley Authority

Published April 16, 2013

Associated Press

In a political role reversal, Republicans are blasting President Obama's plan to consider selling the Tennessee Valley Authority, an icon of the New Deal long targeted by conservatives as an example of government overreach.
Obama's 2014 budget proposal calls for a strategic review of the TVA, the nation's largest public utility with 9 million customers in seven states from Virginia to Mississippi.

Selling the U.S-owned power company could reduce the federal deficit by at least $25 billion and "help put the nation on a sustainable fiscal path," Obama says in a budget document.

Not so fast, say GOP lawmakers in the region.

"It's one more bad idea in a budget full of bad ideas," said Sen. Lamar Alexander, R-Tenn., a longtime TVA champion.

"There is no assurance that selling TVA to a profit-making entity would reduce electric bills in the Tennessee Valley, and it could lead to higher electricity rates" for customers in Alabama, Georgia, Kentucky, Mississippi, North Carolina, Tennessee and Virginia, Alexander said.

Sen. Richard Shelby, R-Ala., vowed to "carefully study any proposals to restructure TVA" to ensure it continues to deliver affordable electricity throughout the region.
Privatizing TVA has been proposed before "and been determined to be a very bad idea," added Rep. John Duncan, R-Tenn.

Administration officials emphasized that privatization was just one option being considered. Sale of the agency has been discussed by prior administrations, but nothing has happened.

Indeed, proposals to sell TVA date back to soon after the agency was created in 1933 to reduce the risk of flooding in the region and bring electricity to rural communities in poor areas of Appalachia. It was a key part of President Franklin D. Roosevelt's New Deal program, which used government spending to help the nation recover from the Great Depression.

President Dwight Eisenhower called TVA "creeping socialism," while President Ronald Reagan criticized it as an example of big government. Republicans from Barry Goldwater to Newt Gingrich have pointed to the TVA as an example of where the private sector could provide services more cheaply and effectively than bureaucrats.

Republican antipathy for the TVA led many in the Southeast to assume that any proposal to sell TVA would come from the GOP -- not a Democratic president fresh off winning a second term.

The privatization proposal "is making our heads spin here in Tennessee," said Stephen Smith, executive director of the Southern Alliance for Clean Energy, a nonprofit group that promotes alternative energy throughout the region.

"For the first time that I'm aware of, you've got a Democratic administration proposing the sale of TVA and simultaneously you've got significant, conservative federal representatives in the House and Senate defending their local socialist project," Smith said. "There's a lot irony in it and little bit of humor actually."

A White House spokesman referred questions to the budget office. A spokeswoman said the plan was part of an effort to modernize and reform the federal government, and to address the financing of energy infrastructure.

"TVA has significant capital financing constraints which are difficult to address in the current fiscal environment," she said.
Rep. Jim Cooper, D-Tenn., called sale of the TVA an "extremely remote possibility" and said the authority's large debts make it unattractive to potential buyers. The TVA also provides a range of services besides power generation, including flood control and recreation, that would shift to other agencies or be dropped if the TVA is sold.

TVA, which owns 29 hydropower plants, 11 coal plants and three nuclear plants, has been plagued by cost overruns in recent years, particularly for its nuclear fleet. The agency plans $25 billion in capital expenditures over the next 10 years, much of it to expand its nuclear capacity and modernize older, coal-fired plants, but faces a statutory debt cap of $30 billion.
John Thomas, the TVA's chief financial officer, said the agency receives no money from the federal government and its bonds are not a federal obligation. Even so, TVA debts are considered part of the federal deficit.

One possible solution is federal legislation to change how the TVA's debt is calculated for federal purposes, Thomas and others said.
The authority will cooperate with the strategic review, but will operate as usual in the meantime, Thomas said..."

WE SAY: They used government spending to solve economic and social issues, including depression/recession.

READ AGAIN: "..."There is no assurance that selling TVA to a profit-making entity would reduce electric bills in the Tennessee Valley, and it could lead to higher electricity rates" for customers in Alabama, Georgia, Kentucky, Mississippi, North Carolina, Tennessee and Virginia, Alexander said..."

WE SAY:
A ha!

Alabama!
Georgia!
Kentucky!
Mississippi
North Carolina!
Tennessee!
Virginia!

The last we checked, all those states, except for Kentucky under their Democrat Governor, had refused to adopt Obama Care/Affordable Healthcare, depriving 1000s of their citizens from getting "cheap" healthcare out of ideological reasons.

We reckon the people in those states could use the savings from Obama Care to pay the extra in electricity bills, and have better health to boot. In fact, those states, have the some of the worst health indicators in the US, including gun violence.

The Rub: Obama Care/Affordable Healthcare is actually an idea from the Heritage Foundation, a Conservative Think Tank, when they were half-decent thinkers.

Capitalism for some, socialism for some, in "Capitalist America", we've said.

Pragmatism is the way!

There is an important developmental role for government, even in Capitalist USA!
Kojo T 8 years ago

Let PKB come up with answers to this one.I kno"w Tennesse and Alabama practice a lot of "socialism" but not this one.But where PKB falters is that it is the job of government to ensure the well being of its citizenry.Full em ...
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Let PKB come up with answers to this one.I kno"w Tennesse and Alabama practice a lot of "socialism" but not this one.But where PKB falters is that it is the job of government to ensure the well being of its citizenry.Full employment being one of them which is converse to profit maximization
Nana Kwame Addo 8 years ago

TVA /Hoover Dam or no TVA/Hoover Dam, Americans have overcome dumsor.

TVA /Hoover Dam or no TVA/Hoover Dam, Americans have overcome dumsor.
MARCUS AMPADU 8 years ago

This rebuttal to Mr. Baidoo's piece describes your write up as First Article, implying that more is to follow. However you want to frame your next paper, please let it reflect how our nation could arrive at "economic well be ...
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This rebuttal to Mr. Baidoo's piece describes your write up as First Article, implying that more is to follow. However you want to frame your next paper, please let it reflect how our nation could arrive at "economic well being", for as I see it Americans put ideological differences aside to achieve existential economic well being. - whether you consider yourself a progressive or a conservative. Independently capitalist or socialist classifications are quickly defenestrated.

When it comes to sustainable growth, I don't see Socialism American Style, nor Capitalism American Style. I wish our country can do that.

Can our economic gurus call for the use of Green GDP, where account is taken both of the depletion of our natural resources and the degradation of our environment?

Do we really need this internecine feud between capitalists and socialists/communists in Ghana. To arrive at a more sustainable future, the conversation should start right now.
Kwame 8 years ago

Mr. Baidoo's Economic Poverty...
My people have the saying that every town has its own way of dressing chicken. Thus every country has its own socialist economy disguised under capitalism. For instance during the period of a ...
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Mr. Baidoo's Economic Poverty...
My people have the saying that every town has its own way of dressing chicken. Thus every country has its own socialist economy disguised under capitalism. For instance during the period of apartheid in South Africa and racial segregation in U.A. whites in both countries were entitled to free education, however Negroes in both countries have to pay for theirs. Privatization of state companies in Ghana lead to some of us asking Dr. Kwesi Botwey and others why their class mates who force them to swallow the hook of privatization do not want to torch its line. External broadcasting is still in the hands of the state in major capitalist countries, whiles "experts" from there call on the privatization of the media in developing countries. We wrote that the state has the majority share in companies in France and hold the majority in power production and distribution, which is also the case in South Korea.India the country that is referred to as the biggest democracy still have a state Food Distribution Corporation. So with all the fact of state involvement in the economy in capitalist countries and the hymn by our economist for depriving the state of the ownership of the means of production and distribution. I at times ask myself did our economists attended economic institutions different from that of their counterparts in the advance capitalist countries?
Prof Lungu 8 years ago

Ha!

That is a new one for me!

READ: "...My people have the saying that every town has its own way of dressing chicken..."

WE SAY: Makes a lot of sense. It's even "scientific", more useful than the proverbs we've been ...
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Ha!

That is a new one for me!

READ: "...My people have the saying that every town has its own way of dressing chicken..."

WE SAY: Makes a lot of sense. It's even "scientific", more useful than the proverbs we've been getting from Baidoo.

THEN THIS: "...state has the majority share in companies in France and hold the majority in power production and distribution, which is also the case in South Korea.India the country that is referred to as the biggest democracy..."

WE SAY: That is what they call "Strategic Assets". Considering that capitalism is to maximize profit for "shareholder", how is a country like Ghana going to be able to protect its finite/limited resources against companies some of whom, annually, actually earn more than 3 times the entire annual GDP of Ghana, and many other countries?

What role contemporary politicians to current and future generations?

Can't we conceptualize cases where there are qualitative differences between one "productivity" and another?

How is it that someone like Baidoo who wants to shoot for 100% capitalism can tell is he can't put a value on life? (But, that is what "capitalist" do/are supposed to easily do, from one country, to the next?

Hogwash capitalist!
MARCUS AMPADU 8 years ago

Since the two ideologies were the creation of the west, can we in Ghana come up with our own ideological framework that seeks to find the authentic balance among government, market, and what Prof. Staglittz referred to as the ...
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Since the two ideologies were the creation of the west, can we in Ghana come up with our own ideological framework that seeks to find the authentic balance among government, market, and what Prof. Staglittz referred to as the 3rd "sector" - NGO's & non-profit organizations?

I agree with Kwame that "every town has its own way of dressing chicken".
Prof Lungu 8 years ago

MARCUS AMPADU,
Are we supposed to invent a new trail, a different way of dressing Ghana's "chicken", when the trail, how to dress the "chicken", has already been laid?

THIS FROM OUR ESSAY

Feature Article of Monday, 6 ...
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MARCUS AMPADU,
Are we supposed to invent a new trail, a different way of dressing Ghana's "chicken", when the trail, how to dress the "chicken", has already been laid?

THIS FROM OUR ESSAY

Feature Article of Monday, 6 July 2015
Columnist: Lungu, Prof.

There Was No "Dum-Sor" Under Kwame Nkrumah!

READ: "...Before 1962, the financial arrangements for the $324 million "Akosombo Hydo Electric Power-Volta Lake" plan was the most complex project ever attempted by the World Bank, the International Bank for Reconstruction and Development (IBRD), or by any entity in the world, including the United States. Funding in the form of loans was obtained from the governments of the United States and the United Kingdom. The Kaiser and Reynolds companies, representing "private enterprise", provided funds as well, including advances for purchase of power from the power plant yet to be built. The Government of Ghana provided $98 million, and guaranteed every loan. The Italian engineering firm, Impregilo, selected through competition, constructed Akosombo Dam under the supervision of Kaiser engineering while employing and training thousands of Ghanaian technicians and ancillary support personnel. Even more Ghanaians, from Accra, to Tema, to Afienya, provided massive amounts of sweat equity, or otherwise directly benefited, by the 1,000s.

Nearly 50 years later, Ghanaians continue to benefit, directly, and indirectly, from Aksosombo Power, every single day!

Fact is, the comprehensive, integrated "Akosombo Hydo Electric Power-Volta Lake-VALCO" project was the planned industrial, agricultural, and service industry "take-off" initiative for the fast-track development of Ghana in accordance with the vision of Dr. Kwame Nkrumah.

The record is in the data!

In six short years, between 1960 and 1966 (when Nkrumah was overthrown), Ghana's Gross Domestic Product (GDP) per capita jumped from $181.00 to $267.00, representing a 47% increase (or 7.83% each one of those 6 years). However, thirty (30) long years after the overthrow of Nkrumah, Ghana's GDP per capita was practically stagnant, increasing just 2.7% each one of those 30 years (from a low $214.00 in 1967 to $386.00 in 1997)..."

QUESTION: The question for you is, how is it that we must now find a new way of dressing the "chicken"?

Is it because maybe there were no professional NGOs in 1957, when the funding arrangements were completed?

What value do you give to Kwame Nkrumah's vision, mission, and legacy, in the equation you seek to engender and promote for Ghana?

ITEM: We ask these questions of you because the last we checked, there were 48 comments to that particular essay, and none from you!

Did you just miss the essay, or that particular useless to your quest?

What gives, MARCUS AMPADU?
MARCUS AMPADU 8 years ago

You definitely did not understand what I meant by "Ghana's way of dressing chicken", please Prof. Lungu go back and reread what I said.

Of course I agree that there was no dumsor under the Osagyefo's administration, I wi ...
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You definitely did not understand what I meant by "Ghana's way of dressing chicken", please Prof. Lungu go back and reread what I said.

Of course I agree that there was no dumsor under the Osagyefo's administration, I with held commenting on that article because you insulted your political opponents.

The new way I want our nation to dress our chicken is to emphasize the third sector Prof. Stieglitz was talking about - balancing the market, the government, and non-profit organizations.

I just want you to know that Kwame Nkrumah was not infallible nor was he prescient.
amanfo 8 years ago

indeed every country has her way of terming socialism. In Ghana a government that pride itself as being market friendly and really associates itself to capitalism once introduce socialist's programmes namely, NHIS, MMT, Schoo ...
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indeed every country has her way of terming socialism. In Ghana a government that pride itself as being market friendly and really associates itself to capitalism once introduce socialist's programmes namely, NHIS, MMT, School feeding and capitation, LEAP and termed them social intervention programmes without having shame to use the world ''social''. In the final anaysis, socialism could be concluded as not being bad as perceived and actually the future. Even promises has been made of extending free education to the secondary level by the pro-capitalist organisation, strengthing of public institutions to effectively work, higher wages for workers and more, so why downplay the significance of socialism and behind it, policies that social friendly implemented and promised?.

Re: Nkrumahism, The Can Of Worms I Opened–Capitalism 3

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