OPINION
Socialist Market Solution to Gambia’s Ailing Economy
BY TIJAN NIMAGA, Bronx New York
About a year ago, we had a raging debate on socialism on this platform. It was a mature debate, which brought together many Gambian elites from all-walks of life who frankly expressed their views. Some were members of The Gambia National Army, radical economists and one extraordinary fellow- PDOIS’s desk officer, Mr. Suwaibou Touray. The debate forced some pundits to bite their fingers with anxiety and some to completely deny the principles of socialism altogether. However, thousands of investors who lost their entire investment in the recent economic crisis now wished they were living in a socialist state. The financial crisis as it deepens, reminded some of the financial analysts, investors and many concerned individuals of the socialist market systems.
In this discussion, I argue, that the socialist market economic system is the only solution to tackle the recent financial crisis and in this sense, I am now more than ever convinced, that the People’s Democratic Organization for Independence and Socialism (PDOIS) is the answer to The Gambia’s ailing economy. First though, let’s look at what a socialist market economy is all about.
A socialist market economy is an economic system, which combines substantial state ownership of large industries with private enterprises where both forms of ownership operate in a free pricing market environment. If the Gambia becomes a socialist state with such market economy, the financial sectors both private and state owned will expand for the benefit of the Gambian people. The system is already working well in some socialist states around the world. Some economists blinded by the capitalist model will ask if the system could work in Africa. In economic terms, socialism could work better in Africa than any other part of the world. This is simply based on the facts that Africa has very few resources to rely on. If those few resources are socialized equitably then, the financial sectors will be beneficial for both the private and state owned enterprises. Some developed countries, which have been endowed from the very beginning of their existence, still, have enough resources to capitalize on, while collectivity exists at some point in their economic agendas. That is why they are no longer interested in a state centered- economic system. So for Africa, especially smaller nations like The Gambia, have to create collectivity with a less state-centered economic plans in doing that, trade unions and enterprises will increase for both the state and the private sector. The same economic system has supplemented the nationalized planned economy of the People Republic of China. The real scenario here is the socialist market system of the People Republic’s of China has attributed to its highly economic growth and has continued to grow on ever since. The system is working very well in Venezuela as well. That is why I belief that with PDOIS in power, The Gambia could also establish such a progressive socialist economic system.
PDOIS’s doctrine, principle and political ideals can convince any one that its model of socialism is socialism at its very best. To eliminate political dogmas from the reality of socialism, I would imply that modern socialism is no longer the system, which we knew and read in books that existed in Eastern Europe and the Soviet Union or like the one practiced in Cuba today. Rather, it is a socialism that is more pluralistic and less state-centered or just simply a democratic socialism. Socialism of the 21st century is socialism based on solidarity, in fraternity, in justice, in liberty and in equality. If PDOIS could establish these socialist principles, The Gambia’s numerous economic woes would be abated. Looking at capitalism in a socialist perspective, capitalism “the modern world disease” as socialist would define it, is protected by only few of the existing socialist models within its programs. Without those socialist models such as states combining their revenues together, capitalism would have long perished. The United States is one of the countries that enjoys the socialist system of collectivity that exist in its local government programs such as the welfare system and all the states coming together as one. That was one of the great achievements of its founding fathers. Lamentably though, it is established only in the local government structures.
Capitalism in its real state is a system in which the distribution and exchange of goods and services or even resources are regulated through competitive markets. If markets compete one another collectively, that is socialism if it is not geared towards distribution alone but also towards price regulation. In this sense owners who are interested in making sure that competitors do not cause them loses would try by all means to maximize their profit. That would include those who reinvest in their business. Karl Marx, the greatest philosopher of all times once defined what is called Libertarian Socialism, as the one, which, assures that free development of each, is a condition for the free development of all. Karl Marx’s theory explains itself clearly. If individuals are able to develop any thing good for mankind then that particular development is there for the benefit of all. That is another political ideology of socialism. The logic here is, one for all is better than one for one in terms of social development.
Socialist Market economy under a socialist state creates successful co-operative unions and enterprises and I have no doubt if PDOIS becomes the ruling party, those long awaited dreams will come to fruition. Evidently, we all know that the greater part of The Gambia’s productive capacity since independence is privately own by individuals which has until now forced the central government to remain financially stagnant since independence .The central government naively watched as many state-owned enterprises such as the National Trading Corporation (NTC) and The Gambia Co-operative Union among numerous others, went bankrupt due to pervasive and systemic corruption. As a historical footnote and for the benefit of the younger generation, the NTC was a state owned enterprise, which sold house whole goods, food and stationery to the general public. The company went bankrupt due to corruption and professional malfeasance. However, under a socialist state, PDOIS of course, most of the private and sate-owned enterprises would be overwhelmingly productive for the betterment of the Gambian people. The co-management system of socialism, which gives private owners more protection, is also able to increase productivity. This system as many may fear, will not be the one that will turn business to complete worker control, rather a system through which representatives in state could have their say in how the enterprises are run. Arguably, this is one main reason why The Gambia government’s sale of GAMTEL was stupid. The government could have done the deal in a co-management system, which allows the government to own the telecommunication company and also have a total control and decision making while the dealmakers be just shareholders.
The 21st. Century socialism or democratic socialism, has an advance social production formulae, which are economic entities dedicated to the production of goods or public services in which work has its own meaning. These are formulae that are geared towards issues without discrimination or privileges associated with one’s position in a hierarchy in which there is substantive equality between its members. In doing that, planning could be operated under either state collectivization or mixed ownership. With such socialist modalities, credit and state contracts and companies could achieve enormously for the benefit of all. If these values are achieved then one can say that in regards to the means of production and distribution, PDOIS could build a political platform to move The Gambia from capitalism to the 21st century reputable socialism. Long live the People’s Democratic Organization for Independence and Socialism ([PDOIS). Until then as the Americans would say, “SEE YAH”!!