A new economic model -focusing on the right things, doing them right

Feb 16, 2023 Letters

Dear Editor,

At the conclusion of Guyana National Budget 2023, a major debate arose over the pros and cons of the fiscal budget. Rightness argues that we need a budget in the name of future generations.

Now is the time to launch major medium- and long-term public investments to drive job creation and create new investment opportunities for industrial sectors that remain crucial for Guyana’s development. We must address building new urban and enter-region transportation systems; invest in energy conservation; dramatically expand low-carbon based energy sources; expand basic public services such as childcare and elder care; and invest much more in public education at all levels as in workers’ skills.

We know that all of these investments especially those in public services and energy efficiency are labour intensive and create many more jobs than increased consumer spending, and simultaneously promote our environmental, community development, and social justice goals. What we need is a period of public investment-led growth to drive the whole economy. Public infrastructure and public services are key drivers of private sector productivity, public sector investment by private sector suppliers.

This relatively modest growth strategy might seem best to establish Guyana’s best modern industrial economy. Given the emerging constraints on global demand, however, it is more likely to succeed in laying the basis for sustained growth than a classical export-oriented industrial strategy. Moreover, it would do more to generate opportunities for the majority of Guyanese people in the short to medium term, helping to overcome the employment backlogs.

Together, as we all work to create a culture where others can compose lives of meaning and service, let’s continue to learn from one another. To begin or continue our journey to be a transformational leader as President Irfaan Ali is changing a person’s life. I agree. This particular President, however, also looks beyond the typical growth metrics of Guyana’s economy and into its heart and soul.

In the Old Testament book of Psalms, the poet-king David writes, “The earth is the Lord’s and everything in it, the World, and all who live in it, for he founded it on the seas and established it on the waters” (Psalms 24:1, NIV): “To the Lord your God belong the heavens, even the highest heavens, the earth and everything in it. “And there’s this little pearl from the New Testament book of James: “Every good and perfect gift is from above, coming down from the Father of the heavenly lights, who does not change like shifting shadows” (James 1:17, NIV).

We need to get the picture, right? When I say that God owns it all, this is what I mean. I believe that God is the Creator of the universe and owns it all because he created it all. That doesn’t mean we just sit back and let things fall apart. No, he wants us to steward his kingdom. It can and should be a place devoted to a purpose, a place where we engage in meaningful work with people we care about and for a cause we believe in.

Finally, there’s morality. Morality covers a lot of ground, I know. Morality, for me, means understanding the difference between right and wrong. It’s staying away from the edge, so I won’t fall into the trap. It’s doing the right thing no matter the cost.

Yours faithfully,

Sherwood Clarke

General Secretary

Guyana, Guyana National Budget, ld Testament book of Psalms, Public infrastructure, Sherwood Clarke

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A new economic model -focusing on the right things, doing them right

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