Monday 20 January 2014

Local Prosperity


According to John Maynard Keynes: economics is a moral science. Adam Smith,' the father of modern capitalism', clearly identifies: the economy cannot function without justice, fairness and morality. Corruption in Zimbabwe is fuelled by a triad of injustice, unfairness and immorality. With high immorality the economy is not realising prosperity.

Contracts from the basis of economic activity. Fraud, graft and corruption are causing the majority of Zimbabwe's business contracts to fail. Businesses continue to fail and the economy sees more economic decline, as corruption grows unchecked. It is clear to see, for the economy to function contracts have to be fulfilled. With the majority of Zimbabwe's contracts not being settled, Zimbabwe for the past twenty years is sitting in permanent depression.

Until courts are allowed to deal fairly and justly with fraud, graft and corruption Zimbabwe will continue in decline. A just law and fair implementation by a conscientious court system will stop the spread of corruption and reduce dishonesty in 'business'. Immorality is not cured by itself; the law can stop its spread and check its destructive impact.

1 comment:

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