Perpetual and the problem of unfettered capitalism
Tuesday, 18 October 2016
Questions about rampant capitalism are raised not just in Sri Lanka but in all developed financial markets. Hence, calls for a more subdued, socially conscious process reverberate here as well, and these arguments are important.
Once we set the rules, the private sector steps in to maximise profit – acting within the neoliberal agenda. That is the system we have created for ourselves, and our private sector is no exception.
But, like elsewhere, the nexus between the private sector and Government is a complex one, and some believe it has gone too far.
The administration of regulations in Sri Lanka is arguably poor, which means our companies operate within both the black and white, as well as the grey areas of the law. And they don’t disclose information when they don’t need to.
Once we set the rules, the private sector steps in to maximise profit – acting within the neoliberal agenda. That is the system we have created for ourselves, and our private sector is no exception.But, like elsewhere, the nexus between the private sector and Government is a complex one, and some believe it has gone too far.
The administration of regulations in Sri Lanka is arguably poor, which means our companies operate within both the black and white, as well as the grey areas of the law. And they don’t disclose information when they don’t need to.
