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• Kyere Manu 10 years ago

  I would like to know how old this nasty Kwarteng is. I don't think he is older than most School pupils.

  I would like to know how old this nasty Kwarteng is. I don't think he is older than most School pupils.

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• Mahmoud 10 years ago

  The so-called professor that tried to embellish Nkrumah's economic record needs to go to School again. Those types of socialist arguments could deceive Ghanaians in the 50s and 60s, but they cannot do so now. Nkrumah was the ...
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  The so-called professor that tried to embellish Nkrumah's economic record needs to go to School again. Those types of socialist arguments could deceive Ghanaians in the 50s and 60s, but they cannot do so now. Nkrumah was the first leader to introduce unsustainable debt into this country by borrowing massively and unnecessarily to finance his whims and caprices to cling to power. It was a misfortune that we had such a person as president immediately after the independence. He didn't lay a realistic economic foundation for sustainable development of this country at all, considering the amount of money that was at his disposal in those days.
  
  Ghana had about one billion dollars in reserve when Nkrumah took over from the colonial masters. Could you imagine the value of 1bn dollars in those days? Even Nkrumah supporters accept that the value of their lesser figure would still be about $20bn in today's Dollar value. In addition, cocoa prices at the world market rocketed and increased four-fold after 2years of his rule. But, contrary to any sound economic planning, he did not reserve any fraction of the windfall for a rainy day as the Whiteman had been doing. So the question is, what did Nkrumah do with all the revenue he got from the astronomical cocoa prices and the huge reserve he inherited, which took many years to build for our financial stability and sustainable development?
  
  The man just went on a spending spree both in Ghana and around the world, throwing his weight about and talking big. So when the cocoa prices collapsed close to the end of his rule, and after he had squandered the reserve, he was quick to point an accusing finger at the West blaming them for manipulating cocoa prices to sabotage the economy of Ghana and overthrow his government. Finally, after misusing all the money on dubious and prestigious projects, failed communist agricultural projects and whimsical mad rush industrialization projects that did not withstand the test of time, he also burdened the young nation with another billion dollars' debt before he was forced out of the country.
  
  The truth is that, Nkrumah's ideas were unsuitable for growing the economy since the communist system lacks mechanisms and incentives that release energies of the people to create wealth. He, therefore, met a rich and confident country with a huge potential, and left it nearly bankrupt in some few years as a result of gross communist mismanagement and dictatorship.

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• Mahmoud 10 years ago

  Professor K. A. Busia did not say that he was going to stay in power forever, and he did not declare Ghana as a one-party state either. In fact, he was given a 5 year mandate to deliver on his promise for Ghanaians to judge w ...
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  Professor K. A. Busia did not say that he was going to stay in power forever, and he did not declare Ghana as a one-party state either. In fact, he was given a 5 year mandate to deliver on his promise for Ghanaians to judge whether to extend his mandate or elect a different leader freely and democratically. But the communist relics that were still hiding in our midst got panicked and overthrew him prematurely for fear of his progressive achievements. Truly, the man knew exactly what he was coming to do to alleviate the suffering of his people, through an alternative mode of development different from that of his predecessor, and hit the ground running from the first day in office.
  
  On the other hand, Nkrumah had been in power for sixteen years and turned himself into a president for life when he realized that his popularity had waned. In the sixties, and after he had squandered the huge reserve bequeathed to him by the Whiteman, the country started to sink and Ghanaians visibly yearned for a change. But since Nkrumah had shut all the doors and channels that could have been used by Ghanaians to exercise their political will of changing him democratically through the ballot box, they had no choice other than to force him out of office through a military coup. Therefore, the coup that removed Kwame Nkrumah from office was the only legitimate coup in the history of Ghana.

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• Prof Lungu 10 years ago

  BY, DR. KWAME OKOAMPA-AHOOFE!
  
  READ:
  "....It is...instructive...that none of the...coup d'états have been staged by any other than bona fide members of the Ghanaian military. Granted, some rascal civilians...staunchly ba ...
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  BY, DR. KWAME OKOAMPA-AHOOFE!
  
  READ:
  "....It is...instructive...that none of the...coup d'états have been staged by any other than bona fide members of the Ghanaian military. Granted, some rascal civilians...staunchly backed regressively Darwinian means of political access, including a world-renowned...former prime minister (Busia). Interestingly, in July 1956, when President Nkrumah's...CPP...won a landslide victory... Busia rode herd on a delegation to the British office in London, to petition the British Crown, and...colonial overlord, to desist from granting the already-scheduled return of Ghana to self-governance. Fortunately... Busia and his right-wing bourgeois reactionaries did not succeed. (Busia)...however, succeeded ten years later in backing the military junta that unseated the Nkrumah administration and facilitated the precipitous devolution of Ghanaian national destiny....\
  
  \....Indeed...Ghana's major and...only international airport is named for...Kotoka....outlaw who spearheaded the grossly unimaginative overthrow of the constitutionally elected government of the CPP... Mr. Rawlings, whose...parentage is purported to be Scottish, presided over the dastardly kidnapping and summary execution of three Ghanaian supreme court judges, all of whom belonged to a single ethnic nationality....Needless to say, the 1966 Kotoka-led coup initiated the barbaric, neo-colonial military dynasty that Ghanaian continue to suffer….\
  
  \... In fact, many of the most vociferous civilian opposition party leaders, some of whom are currently sitting in parliament, representing misguided and hoodwinked constituents, are known to have collaborated with Kotoka's so-called National Liberation Council to unseat President Nkrumah. It is also significant to observe that these...(Busia)...rascals and executive...muggers continue to dominate whatever passes by the name of "the legitimate opposition." This state of affairs, coupled with a largely under-educated and under-informed electorate, has made it almost impossible to rectify the prevailing socioeconomic chaos ravaging...(Ghana)...” (Dr. Kwame Okoampa-Ahoofe's testament for the CPP and Dr. Kwame Nkrumah was taken from “SOUNDS OF SIRENS: ESSAYS IN AFRICAN POLITICS & CULTURE”, Kwame Okoampa-Ahoofe, Jr (2004)," courtesy Atakora-Mensah, Ghanaweb, 2015-04-15 13:21:28).
  
  
  PROF LUNGU SAYS:
  When Dr. Kwame Okoampa-Ahoofe and Samuel Adjei Sarfo, J.D, said all that, what exactly did they mean?

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• Prof Lungu 10 years ago

  BY DR. SAS, ATTORNEY AT LAW
  READ:
  "....Biological sciences affirm the notion that all humankind are equal, and that exposure to knowledge and culture accounts for why some are more inclined than others to achieve greatnes ...
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  BY DR. SAS, ATTORNEY AT LAW
  READ:
  "....Biological sciences affirm the notion that all humankind are equal, and that exposure to knowledge and culture accounts for why some are more inclined than others to achieve greatness, power and wealth...Therefore the defining variable in mental development is “opportunity” which establishes the most legitimate intellectual differentials in the cognitive abilities of groups and individuals.../
  \...It is in the context of all this knowledge that Ghana’s first president, soon after independence, deemed it fit and proper to concentrate on the formal school system to boost the African personality and to merge the tribes under one great banner of nationhood . Dr. Kwame Nkrumah’s vision for Ghana was the elevation of the confidence of the African and the unity of the nation and her people. This vision extended beyond Ghana’s borders to include the whole of Africa. What Nkrumah conceived of nationhood made philosophical sense because without knowledge and unity, no country can claim nationhood. If ignorance makes people show greater allegiances to tribes at the expense of the nation, then the survival of the nation is under serious threat. For a country to be a nation, her people will have to subsume ethnicity under the aegis of the national interest. The present conflicts amongst the tribes, though so far verbal, is a testimony that our country comprises nations within the state. In effect, we of this generation have repudiated the concept of nationhood with our ethnic animosity and undermined the very tenets under which the nation was founded..." (6 February 2007, Ghanaweb, Samuel Adjei Sarfo, J.D., AKA, Dr. SAS, Attorney at Law).

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• Kwame 10 years ago

  Contrary to what the writer wrote Japanese and South Korean companies started as state owned enterprises and where only privatized in the late 80s and early 90s. South Korea's energy production is 75% nuclear at that is state ...
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  Contrary to what the writer wrote Japanese and South Korean companies started as state owned enterprises and where only privatized in the late 80s and early 90s. South Korea's energy production is 75% nuclear at that is state owned. France energy production is 83% nuclear and that is also state owned. It is a fact that China and Russian technology is driven and owned by state owned companies, that Russian rockets that the U.S. and other western countries buy to launch their space objects are produced by a Russian state owned company.
  It is on record that after the coup on 24/6/1966 over 150 thousand Ghanaians lost their job and some of them remained unemployed till their death. If the 24 February 1966 coup was a blessing to Ghanaians it should have put more people in employment and not declare them redundant. The most disgraceful aspect of the coup was that by 1967 some of the women tractor operators and pilots were selling themselves in the streets and hotels in the west as prostitutes. Mahmoud you agree with George Bush that socialism in Cuba should collapse so that you will have many Cuban women to sleep with. It looks like the military has not been privatized anywhere in the world. The 1966 coup also destroyed the feature of hundreds of Ghanaians who were send to Eastern Europe to study in all aspects of human endeavour, return home and help Ghana to grow because it is such people who are helping China and India to grow today, and least I forget about Cuba.

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• JATO KWASHIVI RAWLINGS 10 years ago

  ALL THIS COMING FROM A FIGMENT OF YOUR IMAGINATION, THAT JAPANESE AND SOUTH KOREAN COMPANIES WERE STATE ENTERPRISES PRIVATISED IN THE 80S AND 90S. YOU ARE WRITING FICTION HERE.

  ALL THIS COMING FROM A FIGMENT OF YOUR IMAGINATION, THAT JAPANESE AND SOUTH KOREAN COMPANIES WERE STATE ENTERPRISES PRIVATISED IN THE 80S AND 90S. YOU ARE WRITING FICTION HERE.

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• JATO KWASHIVI RAWLINGS 10 years ago

  History
  The world's largest automobile manufacturing plant in Ulsan, South Korea, produces over 1.6 million vehicles annually.
  
  Chung Ju-Yung founded the Hyundai Engineering and Construction Company in 1947. Hyundai Motor ...
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  History
  The world's largest automobile manufacturing plant in Ulsan, South Korea, produces over 1.6 million vehicles annually.
  
  Chung Ju-Yung founded the Hyundai Engineering and Construction Company in 1947. Hyundai Motor Company was later established in 1967. The company's first model, the Cortina, was released in cooperation with Ford Motor Company in 1968. When Hyundai wanted to develop their own car, they hired George Turnbull, the former Managing Director of Austin Morris at British Leyland. He in turn hired five other top British car engineers. They were Kenneth Barnett body design, engineers John Simpson and Edward Chapman, John Crosthwaite ex-BRM as chassis engineer and Peter Slater as chief development engineer.[11][12][13][14] In 1975, the Pony, the first Korean car, was released, with styling by Giorgio Giugiaro of ItalDesign and powertrain technology provided by Japan's Mitsubishi Motors. Exports began in the following year to Ecuador and soon thereafter to the Benelux countries.
  
  In 1984, Hyundai exported the Pony to Canada, but not to the United States, because the Pony didn't pass emissions standards there. Canadian sales greatly exceeded expectations, and it was at one point the top-selling car on the Canadian market. In 1985, the one millionth Hyundai car was built.[15]
  
  In 1986, Hyundai began to sell cars in the United States, and the Excel was nominated as "Best Product #10" by Fortune magazine, largely because of its affordability. The company began to produce models with its own technology in 1988, beginning with the midsize Sonata. In the spring of 1990, aggregate production of Hyundai automobiles reached the four million mark.[15] In 1991, the company succeeded in developing its first proprietary gasoline engine, the four-cylinder Alpha, and also its own transmission, thus paving the way for technological independence.
  
  In 1996, Hyundai Motor India Limited was established with a production plant in Irungattukottai near Chennai, India.[16]
  
  In 1998, Hyundai began to overhaul its image in an attempt to establish itself as a world-class brand. Chung Ju Yung transferred leadership of Hyundai Motor to his son, Chung Mong Koo, in 1999.[17] Hyundai's parent company, Hyundai Motor Group, invested heavily in the quality, design, manufacturing, and long-term research of its vehicles. It added a 10-year or 100,000-mile (160,000 km) warranty to cars sold in the United States and launched an aggressive marketing campaign.
  
  In 2004, Hyundai was ranked second in "initial quality" in a survey/study by J.D. Power and Associates. Hyundai is now one of the top 100 most valuable brands worldwide. Since 2002, Hyundai has also been one of the worldwide official sponsors of the FIFA World Cup.
  
  In 2006, the South Korean government initiated an investigation of Chung Mong Koo's practices as head of Hyundai, suspecting him of corruption. On 28 April 2006, Chung was arrested, and charged for embezzlement of 100 billion South Korean won (US$106 million).[18] As a result, Hyundai Vice Chairman and CEO, Kim Dong-jin, replaced him as head of the company. On 30 September 2011, Yang Seung Suk announced his retirement as CEO of Hyundai Motor Co. In the interim replacement period, Chung Mong-koo and Kim Eok-jo will divide the duties of the CEO position.[19]

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• francis kwarteng 10 years ago

  Justice Sarpong,
  
  Please go back and read "The East Asian Miracle: A World Bank Policy Research Report (Economic Growth and Public Policy" (1993)"--Oxford University Press.
  
  Also make time to investigate the claims made ...
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  Justice Sarpong,
  
  Please go back and read "The East Asian Miracle: A World Bank Policy Research Report (Economic Growth and Public Policy" (1993)"--Oxford University Press.
  
  Also make time to investigate the claims made by the authors and references. Once you are done with this, then we can go ahead and discourse like two adults.
  
  Watch out for our upcoming "What Ghanaians Can Learn from Pope Francis." We have more in store for you. What you have posted here is a smokescreen. It practically says nothing.
  
  Thanks.

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• francis kwarteng 10 years ago

  Justice Sarpong,
  
  I didn't not initially realize that your response was specifically for Kwame.
  
  That said, you might as well take note of all the references, particularly the one prepared by the World Bank.

  Justice Sarpong,
  
  I didn't not initially realize that your response was specifically for Kwame.
  
  That said, you might as well take note of all the references, particularly the one prepared by the World Bank.

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• Abra Kuma 10 years ago

  A very informative read as always. I reckon the primary reason for the East Asian Tigers' economic success is their unwavering commitment to individual and collective discipline in furthering capital growth and nation buildin ...
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  A very informative read as always. I reckon the primary reason for the East Asian Tigers' economic success is their unwavering commitment to individual and collective discipline in furthering capital growth and nation building. I am curious about the country, if any, among them which may have been as deeply entrenched in corrupt practices as seen in Ghana today, and what checks and balances were instituted as a deterrant? I ask this because evidently our Ghanaian mindset leaves little room for mutual/collective trust these days - and how then may we achieve progress, if we neither have trust in one another nor apparent hope of ever gaining such?
  
  Also, with our culturized minds today, how do we impress upon each other that collective effort yields incredible win/win results - government supplies subsidies, local SMEs protected, big businesses support government in delivering its proposed objectives etc... Oops! Got caught up in western Dumsor (ha!ha!)- running out of battery power.....?

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• MARCUS AMPADU 10 years ago

  In my view Adam Smith went wrong with his conception of Invisible Hand, because he discounted externalities. He did not use, nor did he understand the broader circular flow model.
  
  He definitely wouldn't make much of the c ...
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  In my view Adam Smith went wrong with his conception of Invisible Hand, because he discounted externalities. He did not use, nor did he understand the broader circular flow model.
  
  He definitely wouldn't make much of the common cultural identities of the Asian Tigers, which in my view played a role in the miraculous economic take off of these countries.

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• Peterson 10 years ago

  Lungu don't you see yourself arguing and supporting blindly making a fool of yourself?

  Lungu don't you see yourself arguing and supporting blindly making a fool of yourself?

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• Kwame 10 years ago

  Peterson it is a fool who do not see that state enterprises are the engine of economic and social development in China, Cuba, Russia, North Korea, Iran, Brazil and France. World wide broadcasting stations are still in the han ...
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  Peterson it is a fool who do not see that state enterprises are the engine of economic and social development in China, Cuba, Russia, North Korea, Iran, Brazil and France. World wide broadcasting stations are still in the hands of even capitalist states. The writing was a poverty in economics. If the economy of the west is so successful they would not have been usurping power without responsibility to steal the natural and human resources of both developed and developing countries and there would not have been boat people crossing into Europe to provide cheap labour with the criminal silence of the EU.

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• YAW 10 years ago

  A gold mine of indisputable facts from Mr Mohaved. These facts are incomprehensible to the "Bash Nkrumah" clan.Their blind hatred for Nkrumah makes it possible for them to see through a keyhole with two eyes.

  A gold mine of indisputable facts from Mr Mohaved. These facts are incomprehensible to the "Bash Nkrumah" clan.Their blind hatred for Nkrumah makes it possible for them to see through a keyhole with two eyes.

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• MARCUS AMPADU 10 years ago

  As I keep pointing out those engaged in this debate to nowhere are basing their arguments on neo-classical economic theories and not on ecological economic theory. Adam Smith's Invisible Hands and Keynesian theories, and what ...
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  As I keep pointing out those engaged in this debate to nowhere are basing their arguments on neo-classical economic theories and not on ecological economic theory. Adam Smith's Invisible Hands and Keynesian theories, and what we learned in Paul Samuelson's Economics 101 have little or no relevance for Ghan'a's economic future.
  
  I will rather consult Robert Costanza's The Science & Management of Sustainability, Herman Daly For the Common Good, and Jeffrey Sach's The Age of Sustainable Development. In which he states that sustainable development has three major aspects: economic development, broad-based social inclusion, and environmental sustainability, all supported by good governance.
  
  The future of Ghana should not waste its citizens time engaging in internecine struggle between so-called capitalists & so-called socialists; our main focus should be on "green accounting", paying attention to how we make use of every inch of our God-given ecosystems.

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