I REFUSE TO BELIEVE THAT HE WROTE THIS AS THERE IS QUITE A BIT OF SENSE IN THE ARTICLE. The last I looked, Nigeria operates a Naira-based economy not a dollar-based one. There is no legal or moral restriction strictly limiting the amount of Naira in the system to match the amount of dollars collected via oil sales. More importantly, there is no economic justification for the close linkage implied by the government. If we take its position at face value, the Jonathan Administration is advocating that we effectively place the Naira and thus our fiscal policy on a “dollar standard.” The world jettisoned the gold standard in 1971 because it proved unworkable, reducing the policy space in which governments could pursue fiscal programs promoting full employment and social welfare. We should likewise reject this government’s imposition of a dollar standard on our nation’s fiscal operations. thenationonlineng.net/new/slump-in-oil-prices-a-progressive-way-out/
Posted on: Fri, 14 Nov 2014 20:13:04 +0000
Trending Topics
Recently Viewed Topics
© 2015