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Push up productivity, then push wages
DEAR EDITOR,
Over the decades, there has been a tendency in Guyana to push up wages even when productivity is falling. This eventually leads to a fall in the value of money…inflation.
This is why there is persistent poverty in Guyana.
What is needed is for productivity per person to be pushed up…then push up wages instead of pushing down productivity and pushing up wages.
There will come a time when Guyana may need to mechanised further to be competitive. But this will require inward investment in our industries.
No one wants to invest in a country where wages keeps increasing, the currency keeps depreciating and there is instability.
We need a long-term development plan on raising productivity in all sectors of the Guyana economy as the oil money is not going to solve our problems.
Yours faithfully,
Sean Ori
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