The state of Economics today.

I am always fascinated by the prospect of discovering a new definition of economics and its role in shaping the dynamics of our society. Some of you are probably still caught up in a maze of figuring out what this phenomenon called “Economics” actually is.

A number of people perceive it differently and therefore have varying views on this subject. Some say economics is a way of life, others say its a science that enables society to utilise scarce resources by making decisions based on individual preferences.

When asked, a colleague of mine just narrowed it down to being some complex subject having lots of incomprehensible jargon, that is apparently only meant for the “elite economist!” Well, I beg to defer. I believe that economics is meant for everybody. From the lady vending maize along the streets to the tycoon owning a number of shopping malls in town, from the illiterate kid digging somewhere in a shamba to the rich kid anxiously waiting for the release of IPhone 8! The only difference is that all these individuals look at economics through varying lenses.

Recently, while chatting with some friends of mine, an interesting topic came up involving economics, its evolution and subsequent impact on our society over the years. We were later on joined by a fellow who was quite learned and knowledgeable in economics based on the thoughts he shared. What stood out for me was his argument that economic knowledge without political power in this day and age is hardly effective. He then posed an intriguing question; “Is economics dead?” To which we all responded almost in unison “No! Ofcourse not!” “Economics cannot die, it’s part of life!” One of us added.

Nevertheless, in my humble opinion, economics has been put in an ideological box and maliciously suffocated by the major players who use power backed by their selfish and myopic interests. As a result, key policy decisions that affect the multitudes are taken by the minority.

Ironically, most of the interest groups have no clue that this is actually happening!

Bye for now…

A short term move to enhance food security.

Inorder to decrease the risk of highly volatile prices, price regulation on commodities and larger cereal stocks should be created to buffer the tight markets of food commodities and subsequent risks of speculation in markets.

This includes reorganizing the food market infrastructure and institutions to regulate food prices and provide food safety nets aimed at alleviating the impact of rising food prices and food shortage, including both direct and indirect transfers, such as a global fund to support micro-finance to boost small-scale farmer productivity. The Environmental Food Crisis

First blog post

Hey there, my name is James Lubwa and I have recently completed my B.Sc in Quantitative Economics. I am currently living in Kampala, Uganda. My passion for Economics and the love to write have sparked an immeasurable desire to start this blog. I intend to write about Economic issues in my locality and those around the globe. This blog is therefore intended for individuals who love Economics, those in fields of Economics whether at school or work, and to the layman out there who might not have any academic background in Economics but would like to know a thing or two with regards to how Economics affects their daily lives.

Above all, I intend for this blog to give you a platform on which you can share and express your views on matters-Economics.