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NPP, Neo-Colonialism And Corrupt Leadership In High Places!!

Comment: TELL ME WHAT'S WRONG

Author:
NATI BINGA
Date:
2007-03-04 18:51:06
Comment to:
Re: XENOPHOBIC & RACIST Nii Lantey


So craps from Ivory Coast, even say Kente from UK, what is wrong with that? I want you to tell me why is it wrong that these things should come from Ivory Coast.

Before you do that, I will tell you why there is something good about these goods coming from other places. If you have a littel knowledge of economics, you would understand that more imports is synonymous with or an indicator of improved welfare. That means that if more goods are available, no matter where they are from, the people of Ghana become spoilt for choice = welfare gain. It means the lot of Ghanaians or the goods available to purchase has increased.

This idea is straight from the concept of comparative advantage. It means countries and individuals are better off specialising and trading in products and services in which they have comparative advantage in terms of opportunity cost of production. It means countries that are more relatively efficient at producing craps are doing so and exporting to Ghana. You will find that some countries in West Africa are flooded by Ghanaian goods because we produce those goods in Ghana at a cheaper cost that can be produced in some parts of West of Africa. When you add all this up, both the people in Ghana and elsewhere specialising and trading in what they do best = gain gain gain gain gain gain for alllllllllllllll. Simple economics.

Now the part about foreign sources. One good thing about it all is a simple word: CHOICE. You are not forced to buy goods coming from other places. You CHOOSE FREELY to buy those good, and this is an aspect of economic freedom and availability of goods.

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03-04 15:29
 
 
 
 
 
 
TELL ME WHAT'S WRONG
NATI BINGA
03-04 18:51