ECONOMIC recovery begins with ideas, and not with financial assistance. Judging from the tone and orientation of our discourses on the economy, we seem to think otherwise. Arguably, we are suffering from a poverty of bankable ideas of which illiquidity is only a symptom.
How can we say that we have a liquidity crisis when an estimated US$3,5 billion dollars is said to be circulating outside the formal financial system? Given that local consumers are buying foreign-made products, can we say we have a problem of poor local demand? Michael Dell founded Dell Inc. in 1984 with just US$1 000 dollars and a simple bankable idea. Today Dell Inc. is a multi-billion dollar business. Money chases bankable ideas.
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