Tuesday, 22 October 2024

Imaginary forces of selfish, greedy, and cruel market

Back to the point we've all along been making, viz: That the idea of completely leaving the market to the free reins and vagaries of extreme market forces is dangerous for our economy.

This is because the imaginary forces of the market can be extremely selfish, greedy, and cruel. Even Adam Smith (1723-1790), the father of free enterprise, argued for the pursuit of free market system under condition of equity and justice towards public good.

If we had thought that, by floating the Naira, it will not sink under huge commercial pressures of the market but it's sinking as it were, it's high time we reduced the free hands of the topsy-turvy market.

#stopfloatingNaira #forex #exchangerate #CBN #Nigeria

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