Knowledge Is Virtue: In case of Development Economics & elsewhere

Knowledge is Virtue

One day, not so long ago, I was watching a Talk Show.

The participants who took part were trying to present their own explanations / arguments behind different political events and their own predictions on what’s going to happen next.

And I thought: when people try to explain things – they provide explanations that are “shallow” in scope.

Sometimes they see the “event” from only one perspective. Most of the time, they “borrow” their explanations from others – what they heard others saying, or what they read.

 

But when I provide an explanation behind an event – Political, Economic or otherwise – it’s very close to what is “absolute truth”.

Each of my sentence and every word that I use – is based on sound analysis, taking every aspect into account and leaving nothing behind.

 

My breadth of Knowledge is not bounded by a particular “field of Expertise”. I am an “Expert” in almost any human endeavor. If an area is outside my “expertise” today, I can learn by myself and surpass Experts in that field within a very short time.

I am growing and gaining capacity to direct the “whole world” and everything in it – with my mind.

[Area of Expertise: #Cognitive Science]

 

Breadth of Knowledge that enable me put forward explanations behind events:

I understand: How human minds operate,

How to create and run an Organization of any form and whatever complexity,

How to design the required Organizations to make a Nation work (e.g., Democratic Organizations) or Society or an International Agenda work (International Agendas including establishment of Peace and Security or International Finance),

How to take Science forward and engineer new Technologies to achieve breakthroughs:

conquering Disabilities like Autism and Diseases like AIDS and Cancer,

creating an advanced Artificial Intelligence Platform).

 

Area of Expertise: 

#Development Economics 

 

When Experts plan for turning a Developing Nation (say, Bangladesh or Nigeria or Indonesia) into a Developed Nation, their plans are limited by field of Expertise.

Economists   #Development Economics

Some Economists only make sure the Financial Systems work properly: that savings and investments are high; inflation is low and so forth.

Other Economists put more emphasis on Infrastructure development.

But Economists can not make detailed plans on how to develop a specific Industrial Sector.

Scientists and Engineers  

#Development Economics

When Scientists and Engineers propose Development plans, they emphasize developing the Industrial Sectors – they propose Technology Transfer from Developed countries. And they emphasize on individual development – turning more Scientists and Engineers – through a better Education system.

But Scientists and Engineers miss out on the importance of sound Economic Policy – policies like promotion of “Free Market Capitalism”. They also miss out on emphasizing the importance of Institutions and Organizations:

It’s not Individual Brilliance that make a Nation rich, it’s the Business Organizations and Business Environment that do.

Leaders  #Development Economics

When Leaders plan and implement Development Plans, they usually study successful Models of development (East Asian Tigers like South Korea or Singapore or Malaysia) and contemplate how they can “adapt” those “Models” to suit their own countries.

Most of the leaders are not “Economists” themselves, so they can’t explain the reasons that led to successes in those countries

(though Leaders enjoy the privilege of making new entries to our Dictionaries bearing their names!)

Instances:

“Abenomics” (a new entry to the Dictionary derived from Japanese Prime Minister Shinzo “Abe”) 

and

“Obamacare” (another entry to our layperson’s Dictionary due to President Barack “Obama”).

 

 

Lets get back to what I was discussing.

I can plan to the minutest details (taking “every” little thing of the country into consideration):

How to turn Bangladesh (and African Nations and Latin American Nations) into Developed Nations,

Possible time frame of milestones and achievements,

Estimation of quantitative impact of implementing different Economic Policies,

And most importantly, my plan would take into account every detail: Industry and Finance and Technology Transfer and Policy and People and how to make everything work together to achieve rapid development.

 

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