Chief Executive Officer of the Private Sector Organization in Jamaica (PSOJ), and Chartered Accountant in Jamaica, Dennis Chung, has said that a strong private sector and a strong media is critical to any developing state.
He was speaking at a luncheon on Wednesday, June 14th at the Fort Young Hotel organized by the Dominica Business Forum, where he was invited to present his views on private sector development from the perspective of the Jamaican economy.
He said one of the things that must be cherished in the region is freedom of the press.
“One of the things in this region that we have which we have to cherish is freedom of the press,” he stated. “We don’t know that we have it until we lose it.”
He stated the media is “very, very critical” because “it keeps everyone in check.”
Chung also pointed to another “critical institution,” namely the private sector.
He recommended to those gathered that they should read a book called ‘Why Nations Fail’ by Acemoglu and Robinson which underlines that nations fail or succeed based on the strengths of their institutions.
“And a critical institution in that process is the private sector,” he stated. “In other words, a weak private sector will result in policies that cause market distortions and ultimately market failure and poverty.”
He added that a strong private sector will result in policies that cause “efficient markets and prosperity.”
He also suggested that various partners work in unison notwithstanding disagreements on matters.
“Having disagreements is good. What it must be is disagreements with respect. We must disagree respectfully. I always say to people also to remember that elections is once every five years, once elections is over, everybody come together and work and support the government that is in power to meet the objectives which mean helping them to do the things that are good and talking to them about the things that are not good,” he remarked.
He noted that trust and relationships are “essential” in anything moving forward.
“As we see a continuous deliberate weakening of the institutions of governance in Dominica by the current Labour Party Government.”……….You are so right. This corrupt, waste of time Labour Party, headed by the Inept Pm Skerrit have not weakened but disintegrated the institutions in Dominica for their own selfish political game and supposedly wealth. This corrupt Labour Government must Go.
Skerrit must Go….Skerrit must Go…and Now
First Appearance. The way you present yourself is a bonus. Some people remain at the first step of a ladder, never attempt to climb to the top and murmoured,I cannot do it without even trying and, criticise those who made an effort. The most successful Government for Dominica is the present Labour Party. The gentleman could spot the hatetred,spiteful and jealousy in the people, so he threw a bombshell to cover his back. Take Michael X and Martin Luther. Michael X talk about hatred, whereas Luther was forgiving and always offer a hand. Luther was more successful.
Hahaha “Why Nations Fail”. This guy is subtly suggesting to dominicans that our country could turn into Venezuela if we don’t watch out. A ‘strong private sector’ and ‘freedom of the press’ are two of the major aspects of the Venezuelan socioeconomic climate that were nearly completely destroyed by Chavez and his 21st Century Socialism™ nonsense. Take heed dominicans, lest your nation should suffer this horrible fate.
Dante, I am trying to follow you point. Seems like an oxymoron to to me. Please clarify, what exactly are you saying. ??
I hope part of what you are saying is Skerrit must Go….Skerrit must Go…..
DNO you are giving us bits and pieces of this man’s utterings. Perhaps you should interview the man and print one story.
And then, the same people like you will turn around and say, “DNO that story too long. Is not a book I here to read.”
Dorival, so you don’t know you cannot please people? But of course I would turn around and complain.
The Acemoglu and Robinson book is an interesting suggestion. They argue that liberal democracy is required for sustainable prosperity, but (unfortunately) the lesson of China seems to be that that’s not necessarily the case. Eric X. Li did a fascinating TED talk about this: https://www.ted.com/talks/eric_x_li_a_tale_of_two_political_systems
The need for a market economy and a healthy private sector is pretty indisputable, though.
The question is ‘sustainable prosperity for whom’??? The majority of China residents are dirt poor, live in terrible social and environmental disasters. If China is successful, who are the beneficiaries of its success? The workers in its factories producing goods for the west at pittance wages??
Steve, more than 100M people in China live well below the poverty line. The rest, making up 80%+ of China’s population are slave-class paupers.
Get an education my friend and stop relying on state-controlled media propaganda.
Why Dominica Failed? I am writing this book! As we see a continuous deliberate weakening of the institutions of governance in Dominica by the current Labour Party Government. But why do the people, Dominicans, accept this weakening of the State institutions for political bias, control, authority and gain? “There is no quick fix for institutional weakness, only the possibility that steady encouragement and chance will bring about progress.” The Economist http://www.economist.com/node/21549911
When D/ca fail and become like Venezuela SKERRIT will not be the ne to blame, but all of us Dominicans because we vote for the corrupt man every 5 years. I say we but I am not one of his supporters never will be