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Kenya Airways crisis was neglected by topmost economists

ECONOMIC INSTITUTIONS MUST EMBRACE ETHICAL VALUES IN ORDER TO REMAIN AFLOAT
The scope of every blogger is to create topics for debate. It is true that the loss of the Kenya Airways is deeper than many economists may think. When such crisis occur usually fingers are pointed against the CEO and the Board of Directors. In the eyes of the common man, the Board has not done enough to save the situation. In the eyes of the Board the Chief Executive Officer has not played his or her role cleverly. This write up is concerned more with Kenyan economists. Are there economists capable of dealing with the crisis of our time? Do the economists do their job well and do they advise the government efficiently on areas of risks?
The speech of President Obama at Kasarani sent a clear message to the Kenyan elites as well as the common man. It is not surprising that our country is still prone of political appointments and awarding key government positions based on political influences other than meritocracy. This dogma must change. Who are the real economists in Kenya? Where are they? The common man expects them to be in the Treasury and the Ministry of Finance or in the main financial institutions such as Kenya Central Bank. This is not true. Politicians are the economists. This is very dangerous for the economy. Telling a lie for a politician is not a sin while telling a lie for a professional economist is a big sin.
The deepening crisis facing Kenya Airways is caused by failure of meritocracy and deploying the best economists to do the right job.
Market theory has been subjected to cricism. There is no way Kenya can employ individuals based on the decision of politicians and expect to survive in the world market power. President Obama said that it is not wise to define Kenya in a myopic way. It is dangerous to look at Kenya in terms of political parties or alliances. Even worse, it is very risky to look at the country’s economy in terms of tribalism, nepotism, and it is our turn to eat. This selfishness has got to change.
Economy must respect also social values and the individual and social needs for the whole country. Business that is only focusing on corruption will never thrive. As long as Kenya does not say “enough is enough” in its fight against graft, you cannot expect KQ to compete with the rest of the world. Never! An economic system that adopts liberal fundamentalism without caring about values and mechanisms that respect need for collective action is risky. A similar situation can occur even in civilised societies such as USA, but it is upon Kenya as a nation to say – “enough is enough”. A market with poor distribution of income is simply a disaster. The government must narrow the gap between the haves and the have nots in order to consider stable economy.
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About Peter Onyango

Dr. Peter Onyango O. is one of our main contributors. He is a senior law lecturer, a writer, a consultant, peace ambassador, and a researcher. He assists so many professionals, legal minds, and debaters with his skills and scholarly wealth! He supports children and village community as a way of giving back to community. He edits, proof reads, and publishes various articles for our page!

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