Head of Policy Monitoring and Evaluation at the presidency, Tony Aidoo, yesterday said the country’s hope of expanding the economy and creating sustainable jobs through the private sector is illusory.
That, he said, is because the local entrepreneurs are not creators of capital but consumers of capital generated by the state.
“You cannot develop because what is happening is not the real essence of capitalism; our entrepreneurs do not create capital; they are consumers of capital; they are not like the entrepreneur in the developed capitalist countries who create capital; ours are parasites,” he stated.
Dr Aidoo was contributing to discussions on the reports of widespread corruption involving state agencies and government contracts with private organizations on Joy FM’s Super Morning Show.
He said the so-called private companies in the country rely on patronage to thrive and therefore lack the mettle to survive on their own.
“You find all these companies, Number 1 in Ghana Club 100 or whatever; examine the very foundations of establishment of the company and you will find that the status and everything pales into insignificance; such an entity cannot operate in a matured capitalist country because what it uses is patronage; take out the patronage and the capacity is non-existent; they are at best clients,” he claimed.
He believes Ghana has a value system that vitiates from the principles and values of a pure capitalist state and therefore, “the sheer pretentiousness that you can use the capitalist mode of socio-economic to develop a country like Ghana is fallacious.”
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