The Investor Sentiment - Equity and investments forum for Sri Lankans

Display results as :

Rechercher Advanced Search

Latest topics
Food for Thought EmptyToday at 6:58 pm by NIRMALSG

» Future of Tea Industry
Food for Thought EmptyToday at 6:54 pm by hammurabi

» Dividend Announcement
Food for Thought EmptyToday at 5:30 pm by Ethical Trader

» Cricket !
Food for Thought EmptyToday at 2:22 pm by කිත්සිරි ද සිල්වා

Food for Thought EmptyToday at 1:56 pm by yellow knife

» DIPD.N0000 (Dipped Products)
Food for Thought EmptyToday at 11:40 am by Ethical Trader

» Access Engineering AEL Technical Analysis
Food for Thought EmptyToday at 4:34 am by NIRMALSG

Food for Thought EmptyYesterday at 9:14 pm by hammurabi

» Thread for News on CSE and SL Economy
Food for Thought EmptyYesterday at 8:52 pm by NIRMALSG

»  Rajgama heroes !
Food for Thought EmptySat Jun 22, 2019 9:44 pm by spw19721

» මිල සූත්‍රය වැරදුණාද, වැරැද්දුවාද?
Food for Thought EmptyFri Jun 21, 2019 5:25 pm by Ethical Trader

» First capital holdings
Food for Thought EmptyThu Jun 20, 2019 5:57 pm by serene

» Happy Father's Day !
Food for Thought EmptyMon Jun 17, 2019 8:58 pm by spw19721

» DPL.N0000 (Dankotuwa Porcelain PLC)
Food for Thought EmptySun Jun 16, 2019 7:12 am by NIRMALSG

» Re: Financial reports Q1-2019
Food for Thought EmptyFri Jun 14, 2019 8:57 pm by dhanurrox

Food for Thought EmptyThu Jun 13, 2019 8:11 pm by ruwan326

Food for Thought EmptyThu Jun 13, 2019 8:08 pm by ruwan326

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Food for Thought EmptyThu Jun 13, 2019 8:06 pm by ruwan326

Food for Thought EmptyThu Jun 13, 2019 7:58 pm by ruwan326

» HNB.N0000 ( Hatton National Bank PLC)
Food for Thought EmptyThu Jun 13, 2019 7:57 pm by ruwan326

Food for Thought EmptyThu Jun 13, 2019 7:48 pm by ruwan326

Food for Thought EmptyThu Jun 13, 2019 7:45 pm by ruwan326

Food for Thought EmptyThu Jun 13, 2019 7:43 pm by ruwan326

» අනං මනං! #/+?.<>
Food for Thought EmptyThu Jun 13, 2019 8:07 am by ruwan326

» Should CSE be like this? Whose FAULT is it?
Food for Thought EmptyWed Jun 12, 2019 5:21 pm by Yin-Yang

» CCS.N0000 ( Ceylon Cold Stores)
Food for Thought EmptyTue Jun 11, 2019 9:15 pm by ruwan326

» MCPL.N0000
Food for Thought EmptySun Jun 09, 2019 12:15 pm by ruwan326

» Tourism sector
Food for Thought EmptySun Jun 09, 2019 6:53 am by NIRMALSG

» LOFC Initiating Coverage - STRONG BUY - 29 03 17 - FC Research
Food for Thought EmptyFri Jun 07, 2019 5:42 am by stockback

» Easter Sunday Attack and Sri Lanka
Food for Thought EmptyThu Jun 06, 2019 9:13 am by ruwan326

» In the Meantime, Within Our Shores !
Food for Thought EmptyMon Jun 03, 2019 2:14 pm by කිත්සිරි ද සිල්වා

» What to Analyse
Food for Thought EmptySun Jun 02, 2019 7:11 am by Leon

» Tolerance at its Best !
Food for Thought EmptyThu May 30, 2019 10:50 am by Yin-Yang

» විශ‍්‍රාම ගැන්වීමේ වයස් සීමාව ඉහළ දැමීමට මහ බැංකුවෙන් යෝජනාවක්
Food for Thought EmptyTue May 28, 2019 8:03 am by කිත්සිරි ද සිල්වා

» සදහම් අටුවාව
Food for Thought EmptyTue May 28, 2019 7:07 am by ruwan326

» බැරි වෙලා වත් අනික් පැත්ත උනොත්...?
Food for Thought EmptyFri May 24, 2019 3:42 pm by smallville

» Sri Lanka at Cross Roads: Time to Learn, Unlearn and Relearn - Prof Rohan Gunaratna
Food for Thought EmptyFri May 24, 2019 3:10 pm by puliyanam

» Songs to listen
Food for Thought EmptyFri May 24, 2019 11:26 am by yellow knife

» Dhammika Perera non-committal on common candidate speculation
Food for Thought EmptyThu May 23, 2019 2:54 pm by කිත්සිරි ද සිල්වා

» Films - To Watch List
Food for Thought EmptyWed May 22, 2019 10:04 am by කිත්සිරි ද සිල්වා

» Japan, India in Deal at ‘Belt And Road’ Colombo Port: Nikkei
Food for Thought EmptyTue May 21, 2019 2:06 pm by Ethical Trader

» Presidential poll between 15 Nov-7 Dec
Food for Thought EmptyTue May 21, 2019 11:31 am by bjmd

» Flying is the Safest mode of Transport
Food for Thought EmptyTue May 21, 2019 7:07 am by කිත්සිරි ද සිල්වා

» My Port Folio Bleeding But Its just the Begining Of..
Food for Thought EmptySat May 18, 2019 7:40 pm by serene

» Sri Lanka mulls 25-pct ownership limit in finance companies
Food for Thought EmptyFri May 17, 2019 3:40 pm by Backstage

» Searing Heat in China Is Causing Havoc for Rubber Makers
Food for Thought EmptyFri May 17, 2019 2:43 pm by Backstage

» Israeli spyware breached WhatsApp security
Food for Thought EmptyWed May 15, 2019 7:47 am by කිත්සිරි ද සිල්වා

» Is Burka prohibted ?
Food for Thought EmptyWed May 15, 2019 7:30 am by කිත්සිරි ද සිල්වා

» Thread for General News Local/Foreign
Food for Thought EmptyTue May 14, 2019 11:49 am by CK

» Fed Rate hike , Rs Devaluation PART 2 : Should CSE be like this? Whose FAULT is it?
Food for Thought EmptyFri May 10, 2019 7:15 pm by Backstage

June 2019

Calendar Calendar


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Food for Thought

Go down

Food for Thought Empty Food for Thought

Post by කිත්සිරි ද සිල්වා on Sat May 26, 2018 10:04 am

What Are We Borrowing For?

By Ranil Senanayake –

In the current tussle for political credibility, borrowing money for
‘development’ is equated with success. All politicians laud
‘development’ without any idea of what it means. The question ‘what is
development’ was asked as early as February 1978, but our ‘leaders’,
from that time onwards never had a answer and are still stuck in the
same old rut of blind consumerism, enriching themselves and their
cronies while getting the population deeper and deeper into debt.

Meaning of Development (1978)

Development and progress are words that we are very familiar with and
rightly so. As a nation all our hopes and aspirations are centred
around the promises attendant on these processes. Yet recently there
have been some questions on the values of ‘development’, and as in
every controversial issue, the battle lines have been drawn. the
combatants are, as is usual in these affairs, mostly from developed
countries. the people of developing countries, more often than not,
are mere witnesses to these esoteric exchanges. I do not intend to
imply that these arguments are not valid; rather I would like to draw
attention to the fact that often both points of view have their
references deeply rooted in ‘developed’ or Western technological

Development in the context of the current usage of the word certainly
seems wedded firmly to Western technological thought. Whether we use
it to describe an economic order or a social order, the roots are the
same. e word development carries other connotations

in the context of present usage. It suggests that the country to be
‘developed’ is some way inferior to the model to which it aspires to
become. the point here is: inferior by whose standards? To an
industrialist from a Western country, a poor village in the third
World does indeed need to be developed. A view, that will more often
than not, be held by the rulers of the same country. To quote Richard
Gott (CDN 1978).

“With the formal ending of colonial rule in all three continents of
the third World, political independence was granted a tiny elite
trained not to question the framework within which the world economy

It is this elite that laid the foundation for education of people in
those countries, thus the value system operating and transmitted was
certainly not endemic. With this perspective in mind, lets us attempt
to look at ourselves.

We in Sri Lanka are continually talking about development. I believe
that in the end this merely means an increase in industry and
consumerism. It most certainly could not refer to a cultural or a
philosophical development.

A country in which a major part of her population comprehends
philosophical concepts that are addressable only by a minority of
scholars in the West must certainly be, in comparative terms, more
developed. An argument could be made that we also do not need to be
more developed in our agriculture. Does an agricultural system that
does not rely on any form of energy subsidy, other than biological
energy, need to be ‘developed’ so its productivity becomes reliant on
subsidized energy?

In the so-called developed world active research is under way for
systems which are not subsidised by fossil fuel. We have it – and yet
want to disrupt it in favour of energy intensive agricultural
practices. Could this trend be attributed to the fact that most of our
scholars are trained to look at problems in a purely Western
technological perspective? Of course, all of us want to utilize our
training for national good, but we should be careful and try to
objectively evaluate the long-range repercussions of increased energy

Hartford Tomas (CDN 1978), who is a proponent of third World
development, comments on the help given by developed countries to the
‘to be developed countries’:

“The philosophy of development from the grassroots comes up from the
professionals, in Robert McNamara’s annual speeches and in the work of
Schumacher’s intermediate development group.”

Well now, with all due respect for this illustrious gentlemen, I
submit that the grassroots existed long before Robert McNamara’s
discovery of them, and that if one reads Schumacher’s Small is
Beautiful, one gets the distinct impression that Dr. Schumacher took
many beautiful things from so called ‘underdeveloped’ countries. I do
not mean to belittle the great words of these scholars, but wish to
point out that they are addressing the developed world. So then, what
help do we need from the professionals? To tell us what we already
know about ourselves in ‘developed jargon’?

So we are still confronted with the dubiousness of the meaning of
development. It would seem bizarre indeed if it transpired that we
have been developing for the past 30 odd years mainly in a Western
technological perspective. Some indication of our development can be
addressed if we look at these questions in terms of the goals
identified by those who describe the path. One of the standard answers
to the development question is: the goal is economic growth. On this
point Prof. Dudley Seers says, “in fact, it looks as if economic
growth may not merely fail to solve social and political difficulties,
certain types of growth can actually cause them”.

An important question is: who accepts responsibility for the results
of this monomania for economic growth? Are we, by changing the value
system, creating an artificial need for goods and services non-
essential to our well-being as measured by any endemic standards? It
may be useful to reflect again on a statement by Prof. Seers: ‘the
social barriers and inhibitions of an unequal society distort the
personalities of those with high incomes no less than those who are
poor. Trivial differences of accent, language, dress, customs etc.
acquire an absurd importance and contempt is engendered for those who
lack social graces, specially country dwellers’.

Now let us take a case-in-point. Last week in the suburbs of Colombo,
five youths were picked up for theft by the police. they each had on
them at least Rs. 1000 worth of apparel (imported shirts, imported
trousers, imported wristwatches, imported socks). their occupation?
they were unemployed. How did they earn the money with which to buy
the goods? they stole produce and other sellable items from the
village. What was their need? they had to maintain their status
(tathwaya). Is this development? How did these values come about? A.M.
Hocart, who was the head of the Ceylon archaeological survey, wrote
some poignant words that bear relevance to these phenomena.

“Here is a politician who appeals for help in disturbing the pathetic
contentment of Asiatic peasants and is ready to pillory as an inhuman
wretch anyone who may wish them to remain contented. Contentment has
become a crime, because it opens up no markets for goods or for
doctrines, woe to the man who does not want more fish, more art, more
science, more education, more speed. Trade has no use for him,
politics and science abhor him. The men after their own heart is the
one who can make two desires grow where only one grew before. What,
though he threw to the wind, the old fashion restraints and time
honoured virtues? What though he stoops to cringing or insolence, to
false words, even to corruption? He is hailed as a creative artist for
he has created desire.”

I wonder how truthful an advocate of a Buddhist righteous society
would be, if he believes in development in this context?

We are often told we cannot remain apart from the world’s progress,
and as illuminating examples of progress in the third World we are
shown countries like Singapore, Hong Kong or South Korea. Have those,
who want us to join the mad race of consumerism, really looked beyond
the glitter and the tinsel? Do we want for ourselves a ceaseless
struggle for the goods we will be taught are essential to our
well-being? In a world whose energy resources are constantly
dwindling, does it not seems obvious what the fate of energy dependent
societies will be?

My discussion is fraught with questions, and I believe that they are
valid questions. As questions I am sure that they will receive replies
from the people whom we, the public, have faith in entrusting our
futures to. I am equally sure that I, among many others, will gain
tremendous knowledge from these answers. This may serve to bring the
dialogue of ‘development’ from the ‘developed’ to the ‘to be
developed’ (us, in this context). For in the final analysis, demanding
acknowledgement of individual responsibility for influencing national
processes may serve to act as a safety valve on the social movement
called development.

Forty years later do we have even one politician who can comprehend or
respond to these questions ?

I am the wisest man alive, for I know one thing, and that is that I know nothing.
කිත්සිරි ද සිල්වා
කිත්සිරි ද සිල්වා
Top contributor
Top contributor

Posts : 7851
Join date : 2014-02-23
Age : 61
Location : රජ්ගම

Back to top Go down

Food for Thought Empty Re: Food for Thought

Post by Ethical Trader on Sat May 26, 2018 11:24 am

Timely one. Thanks.
Ethical Trader
Ethical Trader
Top contributor
Top contributor

Posts : 5271
Join date : 2014-02-28

Back to top Go down

Back to top

Permissions in this forum:
You cannot reply to topics in this forum