This is what our Special Guests - Tlhalefo Leemisa and Hlalefang Leemisa had to say about the previously held event; The Nation in Conversation Public Lecture Series Event.
"It was such an honor to attend the thought-provoking and insightful public lecture organized by IGGLE Consulting and Coaching. The event served as a crucial platform for delving into Lesotho’s current economic landscape. The speakers eloquently addressed issues such as recession, dependence on the public sector, high wage bills, mismanagement, and the need for economic diversification.
The distinguished speakers explained the aspects that could drive Lesotho’s economy encompassing factors such as private sector expansion, investment in infrastructure, good governance, technological advancement, diversification of the economy, and working together. The emphasis on asking the right questions and aligning national development objectives with statistical capabilities for effective planning added depth to the discussion.
The lecture was such an insightful experience, fostering an understanding of the complex dynamics shaping Lesotho’s economic future. The discussions were rich with perceptions, highlighting the imperative need for sustainable strategies that could propel economic base growth. Overall, the lecture provided a rich context of economic challenges, policy implications, and strategic considerations, contributing significantly to our academic understanding and practical insights as aspiring economists."
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Founder and President at Alberta Institute
2moIt's a cute analogy, but it's nonsense. Inflation is caused by an increase in the money supply. The Reserve Bank printed money, meaning there was more money despite there being the same amount of stuff, so everything got more expensive. Imagine if we DOUBLED the amount of money that exists and gave everyone a proportional amount so that they had DOUBLE what they used to have. You would have more money, but no one would be richer, because the price of everything would just double. Inflation works like this, except it's even worse, because instead of the government giving everyone a proportional share of the new money, they keep it for themselves and use it to spend on things the politicians want, which may or may not benefit regular people (and usually they don't). The price of things doesn't really matter - we could add 6 zeros to the price of everything tomorrow and as long as we add 6 zeros to wages and savings and debt too, everything would stay the same. What matters is how much stuff we produce per person. We used to have a reserve bank that understood this. Maybe one day we will again.