The prognosis and performance of an economy is often not a function of the adopted economic ideology, but more of the attitudes of the populace within the geographical boundary of that economy. In the course of human development, many economic ideologies have evolved (e.g. communism, socialism, capitalism). However, capitalism appears to have gained wider acceptance.
Capitalism, as defined by some reference dictionaries, refers to “an economic ideology that is based on private ownership and control of the means of production and the creation of goods and services for profit”. Although not entirely peculiar to capitalism, the economy must accommodate competitive markets, capital accumulation, voluntary exchange, and personal finance for a capitalist ideology to thrive.
Capitalism as postulated in this paper may contradict its academic tenets and could be subjected to debate. Suffice to say that many ideas and constructs, in practice, are more elaborate than as conceived by the postulator(s) and others who espouse them.
Viewed psychologically, capitalism is the synonym for the “satanic (Darwin’s) principle of the survival of the fittest”. In operation, it promotes competitiveness, rivalry, greediness, selfishness, slavery, corruption, and criminality. Wait a minute, aren’t these characteristic traits in human? Indeed, they are, but in an ennobling environment they become less primed as vices. The argument regarding the true nature of human is still ongoing, but the seeming consensus is that man is good but for the structural imbalances created in the practise of an economic ideology by the elite.
Competition is a precursor for aggression, rivalry and enmity. Muzafer Sherif and his colleagues (in a classic study of competitiveness and co-operation, 1961), demonstrated how otherwise friendly, normal youths became enemies and even engaged in a near full-scale war by competing in a ‘staged’ tournament. Several reported clashes of football fans of opposing teams in competitions across the globe are enough evidences today.
Competition as inherent in capitalism, presupposes an individual or a group striving for superiority – seeking to be the highest, best, richest, strongest, or to acquire as much resources as deems fit even at the expense of others.
On the economic scene, capitalists exploit all available resources to accumulate capital, held down the living standards of workers and peasants to create profits, the excess profits would then be ploughed into creating institutionalized structures to protect and perpetuate their interests. Any wonder why laws with inherent loopholes, were often enacted to provide escape routes for the exploiters of the Society’s common wealth?
The Nigeria elite, unlike their counterparts in some capitalist societies, appear more inclined to perpetuating the exploitative tenets of capitalism. For instance, in the western capitalist societies, the rich or elite consciously redistribute their wealth by building industries, floating public corporations and instituting charity foundations, to mitigate the harsh effects of their exploitations and wittingly reduce tax commitments.
What is the situation in Nigeria? The elite appear to have sworn to annihilate common Nigerians. What other explanation is apt where rich Nigerians send their wards to foreign educational Institutions, Hospitals, et cetera and connive with foreign exploiters to destroy our Institutions in the name of capitalization and privatization? Nigerian elite prefer to hide their (looted) monies in foreign banks, buy houses abroad instead of local mass accommodations, and establish hotels as evidence of local investments. In order to perpetuate personal interests, Nigerian elite would want the rail-tracks, roads, schools, hospitals, and other public infrastructures remain in shambles.
As a way of repressing the inevitable disenchantments of the downtrodden Nigerians, all manner of deceptive measures are being introduced. The elite deploy state security machinery to protect private interests and intimidate law abiding citizens.
However, the battle line appears to have been drawn as many deprived Nigerians are using ingenuous strategies hitherto unheard of to survive. The hard-hearted ones have taken to crime and are continuing to get more sophisticated. It is common knowledge that criminals these days inform their target victims that they are coming. Abduction (kidnapping) of persons is a strategy currently, used by criminals to tell the elite that if they can’t reach their (elite’s) money, they would be pleaded with to demand as much as they wish. Grenades and improvised explosive devices have become a ready means of accessing monies in banks’ vaults by criminals.
The future of Nigeria and Nigerians appears to be in precipice. What is the way forward? As Muzafer Sherif and colleagues discovered, “the pursuit of super-ordinate goal” restored peace and friendliness amongst the competing youths at the summer camp. Nigerian elite and governments need to realize that to restore peace in the country all hands must be on the deck. Policy formulation and enforcement must be seen to incorporate the interests of all Nigerians, no matter one’s background. The idea of decimating and destroying public institutions (schools, hospitals, water corporations, public transportation, et cetera) to pave ways for privately funded and controlled institutions is parochial and will never promote peace in the country.
Crosby, in a study conducted in 1976, found that “the belief that people fare poorly relative to others” breeds discontent and the propensity to aggress. So, the elite need to emulate their western counterparts in building and instituting public corporations in which larger number of the masses are stakeholders. They could initially fund such corporations and gradually pull back their investments, to borrow from the philosophy of Robert Kiyosaki’s rich Dad, poor Dad. If banks are being owned publicly and they are thriving strongly, what are the justifications for decimating and privatizing publicly owned institutions?
Monopolistic disposition/tendency only distorts the mechanism of wealth creation, since creating artificial scarcity leads to a reduction in the aggregate turnover. Empowering the masses is a secret of wealth creation the elite had consistently avoided. Making human basic needs (shelter, transportation, water, health, and education) relatively affordable increases the purchasing power of the masses which in turn boosts their demands for goods and services. Crime and criminality will no longer appeal to the youths who now afford all their needs.
Governments need not be involved in the ownership and control of the means of production and creation of wealth. What is required of governments is the provision of the catalysts for wealth creation. Collectively, the citizenry are able and willing to create wealth for the growth of Nigeria.
BY: UZOR SIMEON NWAINYINYA
Abakaliki, Ebonyi State
Uzor2006@yahoo.com
08030726085