Binyenomics is one word coined from two words binye (from Nwabinye) +nomics. Binye means to dwell with:- in harmoney, peace etc, The English suffix-nomics is derived from the Greek νόμος nomos, meaning "law." The fields ending with -nomics thus mean "law of" whatever the prefix is. Example economics. In simple terms 'Economics' is the study of how people choose to use resources.
Resources include the time and talent people have available, the land, buildings, equipment, and other tools on hand, and the knowledge of how to combine them to create useful products and services. It has being defined by many authors. As a change agent it is our desire that one day our country will change for better, we re the political elite that will induce such changes. Binyenomics my watch word i can man the change in future. Binyenomics seeks to remedy economic stagnation by boosting economic development and enacting reforms to make the economy more competitive.
The motivation of this is to shed light upon the political economy factors that determine the quality of governance for poverty alleviation policies. This issue is a crucial one because although remarkable strides have been made in some parts of the country, more than 90 million people live on less than $1 a day. The situation begs the important question: Why have poverty alleviation efforts by government not achieved the momentum necessary to improve the living standards of poor? An important reason why growth with significant redistribution has not occurred in many cities and towns within this country is that poverty reduction strategies have often been politically naive. The literature spawned by major development institutions until the 1990s did not go beyond policy prescriptions to ask under what political conditions redistributive policies could be successfully adopted. This is a relevant issue because policies reflect concrete political and social interests and it is not hard to imagine a situation where poverty-alleviating reform is hindered by vested interests.
The aim of binyenomics is not only to postulate but is determined to give good quality governance, because poor governance is but a manifestation of these deep-rooted institutional and political biases against the collective interests of the poor.

Views: 135

Reply to This

Forum Categories

© 2021   Created by Vanguard Media Ltd.   Powered by

Badges  |  Report an Issue  |  Terms of Service