The best kept eco­nomic se­cret!

The Kurdish Globe - - NEWS - By Swara Kadir

What is the best kept eco­nomic se­cret which is no se­cret at all and can solve Kur­dis­tan and in­deed any coun­try’s eco­nomic woes?

The com­mon as­sump­tion is for a coun­try to be eco­nom­i­cally pros­per­ous is to have lots of nat­u­ral re­sources. The more nat­u­ral re­sources a coun­try has the richer its seen to be. Is that the case though? Are all coun­tries with a lot of nat­u­ral re­sources eco­nom­i­cally pros­per­ous? No, not nec­es­sar­ily. Look at a coun­try like Venezuela, one of the top ten oil coun­tries with oil re­serves but still eco­nom­i­cally it's no bet­ter off than its neigh­bour­ing Columbia!

Have you fig­ured it out by now! It's not the re­sources that count, but it’s the peo­ple, the labour force that re­ally make a dif­fer­ence. Coun­tries like China, U.A.E, and Korea, with vir­tu­ally no or very lit­tle nat­u­ral re­sources have man­aged to be­come the most eco­nom­i­cally thriv­ing na­tions.

Th­ese na­tions in­vested heav­ily in its peo­ple, in pro­duc­ing a pow­er­ful labour force. Ed­u­ca­tion is one of the main keys. The Asian Tiger coun­tries, some of the most eco­nom­i­cally pow­er­ful coun­tries, spend large por­tions of their na­tional bud­get on ed­u­ca­tion.

The whole work cul­ture in eco­nom­i­cally pros­per­ous coun­tries is one of hard work and a com­mit­ment to ex­cel­lence at one’s job. This cul­ture pro­duces eco­nomic devel­op­ment, not the nat­u­ral re­sources. It is the make or break of a coun­try’s econ­omy.

I re­mem­ber how the Kur­dish work cul­ture was when I came back to Kur­dis­tan in 1999 to do busi­ness. The gov­ern­ment didn’t have oil gen­er­ated money to give to peo­ple, so it was a sim­ple case of ei­ther get a job and work hard to make it or starve! This ne­ces­sity pro­duced a healthy work cul­ture where work would get done. There was some pro- duc­tiv­ity in the labour force. Con­trast this with the state of the Kur­dish labour force af­ter 2003 and the plen­ti­ful of the gov­ern­ment hand­outs and you will see a big re­gres­sion.

Look at the state of the econ­omy now and the labour force, peo­ple are now slowly re­al­iz­ing that gov­ern­ment hand­outs are not for­ever. The re­al­iza­tion is slowly dawn­ing upon us that there is a des­per­ate need to trans­form the work cul­ture and shape up the Kur­dish labour force.

Newspapers in English

Newspapers from Iraq

© PressReader. All rights reserved.