LOL Mr JAGDEO Jumbie Economics

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Former Member

Stabroek News
Thursday April 6, 2006

The New Science of Jumbienomics

Dear Editor,

Over the past few years Freedom House, led by President Jagdeo and Robert Persaud, has pioneered a new branch of economics – jumbienomics (formed by combining jumbie and economics) or phantonomics (the composite of phantom and economics). The latest proposition of this new discipline holds that development is measured by a cement shortage. This thesis was submitted recently by A. Persaud (SN 04/01/06). A. Persaud and others in that school emphasize a cement shortage as a measure or progress over such measures as the growth of the official economy, unemployment rate, poverty rate, and Guyana’s ranking on the HDI.

I do not believe Guyanese fully appreciate the innovations coming out of Freedom House in recent years. Please allow me, therefore, to outline a few of the other propositions that have been forthcoming over these past few years.

First, a feasibility study is only necessary after the project has started as was the case with the cricket stadium. On the other hand, when a feasibility study is actually conducted it is kept a secret as is the case with the proposed Berbice Bridge. Fortunately lesser mortals like I can still look at the proposed price structure and infer something about the sustainability of the bridge project. For example, the proposed high price implies the adherents of phantonomics are trying to equalize the present value of the future stream of incomes to the present value of the future stream of costs. Hence, if the future stream of costs are high as one would expect of a floating bridge (remember how costly it was to overhaul the Demerara Harbour Bridge) the expected toll rate must likewise be high in order to make the project feasible. If for instance the price structure is similar to that of the Demerara Harbour Bridge, the project is likely to be unsustainable. Jumbienomics, it would seem, is not too concerned about the long-term welfare implications of a project.

Second, poverty and unemployment decline in an economic depression. Despite eight years of negative or near-zero GDP growth rates, unemployment is nine percent as Robert Persaud has consistently argued (see my letter in SN 01/04/06). This insight which is now prominent in the jumbienomics school has overturned decades of orthodox literature in macroeconomics and development economics. Okun’s law and the Phillips curve, for instance, are no longer relevant conceptual tools.

Third, development finance comes from the underground economy (or phantom economy as Prof. Thomas recently labelled it), remittances and foreign aid. It should be obvious now why followers of this school of thought do not pay much attention to official GDP numbers, unemployment or HDI rankings. Remember, the cement hypothesis is now relevant along with output in the phantom economy.

Fourth, the traditional method of choosing a portfolio of assets that balances risk and return is now passÉ in jumbienomics. There is no need for the insight that comes from such tools as the Markowitz efficiency frontier or the CAPM. This was most recently highlighted by the proposed NIS investment in the Berbice Bridge project. The new paradigm it would seem puts all eggs (or most eggs) in one basket; NIS is exposed directly through the amount of funds it invests into the bridge project and indirectly through Clico and Hand in Hand, both of which have borrowed a total of G$ 10.2 billion from the NIS and both of which are planned shareholders of the bridge project (see SN 04/02/06). The intellectual justification comes from an apparent new convert to this school, Winston Brassington, who theorizes in a letter to the NIS General Manager (also see the same Stabroek News article) that “the security of the project is tied to the assignment of bridge tolls.” Apparently perfect foresight underpins the new approach. Brassington is certain the project is viable even though the feasibility study was done in the early 1990s when optimistic assumptions were made.

While the above constitutes the core theoretical insights of this new approach, that school also have two broad operational frameworks. First, projects take long to complete. For instance, it took close to five years to resurface and expand five miles (from Nandy Park to Banks DIH) of Burnham’s road. The Essequibo road is another example of a very long-term project. Second, when adherents to jumbienomics are critiqued, they usually have a consistent rejoinder – that is, members of the opposition (whose members still hold on to orthodox economics) should take the lead and come up with solutions and policies. It is not the responsibility of the government to take the lead in policies.

Given such seminal insights, I believe Guyana is likely to see its first Nobel in the near future. President Jagdeo and Robert Persaud are the most likely candidates, only this time it will not be for economics but for jumbienomics or phantonomics.

Yours Faithfully,

Tarron Khemraj

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Former Member

Originally Posted by JB:

Stabroek News
Thursday April 6, 2006

The New Science of Jumbienomics

Dear Editor,

Over the past few years Freedom House, led by President Jagdeo and Robert Persaud, has pioneered a new branch of economics – jumbienomics (formed by combining jumbie and economics) or phantonomics (the composite of phantom and economics). The latest proposition of this new discipline holds that development is measured by a cement shortage. This thesis was submitted recently by A. Persaud (SN 04/01/06). A. Persaud and others in that school emphasize a cement shortage as a measure or progress over such measures as the growth of the official economy, unemployment rate, poverty rate, and Guyana’s ranking on the HDI.

I do not believe Guyanese fully appreciate the innovations coming out of Freedom House in recent years. Please allow me, therefore, to outline a few of the other propositions that have been forthcoming over these past few years.

First, a feasibility study is only necessary after the project has started as was the case with the cricket stadium. On the other hand, when a feasibility study is actually conducted it is kept a secret as is the case with the proposed Berbice Bridge. Fortunately lesser mortals like I can still look at the proposed price structure and infer something about the sustainability of the bridge project. For example, the proposed high price implies the adherents of phantonomics are trying to equalize the present value of the future stream of incomes to the present value of the future stream of costs. Hence, if the future stream of costs are high as one would expect of a floating bridge (remember how costly it was to overhaul the Demerara Harbour Bridge) the expected toll rate must likewise be high in order to make the project feasible. If for instance the price structure is similar to that of the Demerara Harbour Bridge, the project is likely to be unsustainable. Jumbienomics, it would seem, is not too concerned about the long-term welfare implications of a project.

Second, poverty and unemployment decline in an economic depression. Despite eight years of negative or near-zero GDP growth rates, unemployment is nine percent as Robert Persaud has consistently argued (see my letter in SN 01/04/06). This insight which is now prominent in the jumbienomics school has overturned decades of orthodox literature in macroeconomics and development economics. Okun’s law and the Phillips curve, for instance, are no longer relevant conceptual tools.

Third, development finance comes from the underground economy (or phantom economy as Prof. Thomas recently labelled it), remittances and foreign aid. It should be obvious now why followers of this school of thought do not pay much attention to official GDP numbers, unemployment or HDI rankings. Remember, the cement hypothesis is now relevant along with output in the phantom economy.

Fourth, the traditional method of choosing a portfolio of assets that balances risk and return is now passé in jumbienomics. There is no need for the insight that comes from such tools as the Markowitz efficiency frontier or the CAPM. This was most recently highlighted by the proposed NIS investment in the Berbice Bridge project. The new paradigm it would seem puts all eggs (or most eggs) in one basket; NIS is exposed directly through the amount of funds it invests into the bridge project and indirectly through Clico and Hand in Hand, both of which have borrowed a total of G$ 10.2 billion from the NIS and both of which are planned shareholders of the bridge project (see SN 04/02/06). The intellectual justification comes from an apparent new convert to this school, Winston Brassington, who theorizes in a letter to the NIS General Manager (also see the same Stabroek News article) that “the security of the project is tied to the assignment of bridge tolls.” Apparently perfect foresight underpins the new approach. Brassington is certain the project is viable even though the feasibility study was done in the early 1990s when optimistic assumptions were made.

While the above constitutes the core theoretical insights of this new approach, that school also have two broad operational frameworks. First, projects take long to complete. For instance, it took close to five years to resurface and expand five miles (from Nandy Park to Banks DIH) of Burnham’s road. The Essequibo road is another example of a very long-term project. Second, when adherents to jumbienomics are critiqued, they usually have a consistent rejoinder – that is, members of the opposition (whose members still hold on to orthodox economics) should take the lead and come up with solutions and policies. It is not the responsibility of the government to take the lead in policies.

Given such seminal insights, I believe Guyana is likely to see its first Nobel in the near future. President Jagdeo and Robert Persaud are the most likely candidates, only this time it will not be for economics but for jumbienomics or phantonomics.

Yours Faithfully,

Tarron Khemraj

TK is a disgruntled reject. A rolling stone gathers no moss.

8/18/149:44 AM

Former Member

Originally Posted by skeldon_man:

Originally Posted by JB:

Stabroek News
Thursday April 6, 2006

The New Science of Jumbienomics

Dear Editor,

Over the past few years Freedom House, led by President Jagdeo and Robert Persaud, has pioneered a new branch of economics – jumbienomics (formed by combining jumbie and economics) or phantonomics (the composite of phantom and economics). The latest proposition of this new discipline holds that development is measured by a cement shortage. This thesis was submitted recently by A. Persaud (SN 04/01/06). A. Persaud and others in that school emphasize a cement shortage as a measure or progress over such measures as the growth of the official economy, unemployment rate, poverty rate, and Guyana’s ranking on the HDI.

I do not believe Guyanese fully appreciate the innovations coming out of Freedom House in recent years. Please allow me, therefore, to outline a few of the other propositions that have been forthcoming over these past few years.

First, a feasibility study is only necessary after the project has started as was the case with the cricket stadium. On the other hand, when a feasibility study is actually conducted it is kept a secret as is the case with the proposed Berbice Bridge. Fortunately lesser mortals like I can still look at the proposed price structure and infer something about the sustainability of the bridge project. For example, the proposed high price implies the adherents of phantonomics are trying to equalize the present value of the future stream of incomes to the present value of the future stream of costs. Hence, if the future stream of costs are high as one would expect of a floating bridge (remember how costly it was to overhaul the Demerara Harbour Bridge) the expected toll rate must likewise be high in order to make the project feasible. If for instance the price structure is similar to that of the Demerara Harbour Bridge, the project is likely to be unsustainable. Jumbienomics, it would seem, is not too concerned about the long-term welfare implications of a project.

Second, poverty and unemployment decline in an economic depression. Despite eight years of negative or near-zero GDP growth rates, unemployment is nine percent as Robert Persaud has consistently argued (see my letter in SN 01/04/06). This insight which is now prominent in the jumbienomics school has overturned decades of orthodox literature in macroeconomics and development economics. Okun’s law and the Phillips curve, for instance, are no longer relevant conceptual tools.

Third, development finance comes from the underground economy (or phantom economy as Prof. Thomas recently labelled it), remittances and foreign aid. It should be obvious now why followers of this school of thought do not pay much attention to official GDP numbers, unemployment or HDI rankings. Remember, the cement hypothesis is now relevant along with output in the phantom economy.

Fourth, the traditional method of choosing a portfolio of assets that balances risk and return is now passé in jumbienomics. There is no need for the insight that comes from such tools as the Markowitz efficiency frontier or the CAPM. This was most recently highlighted by the proposed NIS investment in the Berbice Bridge project. The new paradigm it would seem puts all eggs (or most eggs) in one basket; NIS is exposed directly through the amount of funds it invests into the bridge project and indirectly through Clico and Hand in Hand, both of which have borrowed a total of G$ 10.2 billion from the NIS and both of which are planned shareholders of the bridge project (see SN 04/02/06). The intellectual justification comes from an apparent new convert to this school, Winston Brassington, who theorizes in a letter to the NIS General Manager (also see the same Stabroek News article) that “the security of the project is tied to the assignment of bridge tolls.” Apparently perfect foresight underpins the new approach. Brassington is certain the project is viable even though the feasibility study was done in the early 1990s when optimistic assumptions were made.

While the above constitutes the core theoretical insights of this new approach, that school also have two broad operational frameworks. First, projects take long to complete. For instance, it took close to five years to resurface and expand five miles (from Nandy Park to Banks DIH) of Burnham’s road. The Essequibo road is another example of a very long-term project. Second, when adherents to jumbienomics are critiqued, they usually have a consistent rejoinder – that is, members of the opposition (whose members still hold on to orthodox economics) should take the lead and come up with solutions and policies. It is not the responsibility of the government to take the lead in policies.

Given such seminal insights, I believe Guyana is likely to see its first Nobel in the near future. President Jagdeo and Robert Persaud are the most likely candidates, only this time it will not be for economics but for jumbienomics or phantonomics.

Yours Faithfully,

Tarron Khemraj

TK is a disgruntled reject. A rolling stone gathers no moss.

Why you so vex? Want some of me pappy and mamoo 2500 USD cognac to make you feel high?

8/18/149:49 AM

Vish MSenior Member

skeldon_man ,

You are dismissive.

Did you even read the article?

Critique his letter and do justice.

Your comment is similar to a "like" on FB......no thought

8/18/1410:01 AM

NehruBig Mouth Member

Originally Posted by skeldon_man:

Originally Posted by JB:

Stabroek News
Thursday April 6, 2006

The New Science of Jumbienomics

Dear Editor,

Over the past few years Freedom House, led by President Jagdeo and Robert Persaud, has pioneered a new branch of economics – jumbienomics (formed by combining jumbie and economics) or phantonomics (the composite of phantom and economics). The latest proposition of this new discipline holds that development is measured by a cement shortage. This thesis was submitted recently by A. Persaud (SN 04/01/06). A. Persaud and others in that school emphasize a cement shortage as a measure or progress over such measures as the growth of the official economy, unemployment rate, poverty rate, and Guyana’s ranking on the HDI.

I do not believe Guyanese fully appreciate the innovations coming out of Freedom House in recent years. Please allow me, therefore, to outline a few of the other propositions that have been forthcoming over these past few years.

First, a feasibility study is only necessary after the project has started as was the case with the cricket stadium. On the other hand, when a feasibility study is actually conducted it is kept a secret as is the case with the proposed Berbice Bridge. Fortunately lesser mortals like I can still look at the proposed price structure and infer something about the sustainability of the bridge project. For example, the proposed high price implies the adherents of phantonomics are trying to equalize the present value of the future stream of incomes to the present value of the future stream of costs. Hence, if the future stream of costs are high as one would expect of a floating bridge (remember how costly it was to overhaul the Demerara Harbour Bridge) the expected toll rate must likewise be high in order to make the project feasible. If for instance the price structure is similar to that of the Demerara Harbour Bridge, the project is likely to be unsustainable. Jumbienomics, it would seem, is not too concerned about the long-term welfare implications of a project.

Second, poverty and unemployment decline in an economic depression. Despite eight years of negative or near-zero GDP growth rates, unemployment is nine percent as Robert Persaud has consistently argued (see my letter in SN 01/04/06). This insight which is now prominent in the jumbienomics school has overturned decades of orthodox literature in macroeconomics and development economics. Okun’s law and the Phillips curve, for instance, are no longer relevant conceptual tools.

Third, development finance comes from the underground economy (or phantom economy as Prof. Thomas recently labelled it), remittances and foreign aid. It should be obvious now why followers of this school of thought do not pay much attention to official GDP numbers, unemployment or HDI rankings. Remember, the cement hypothesis is now relevant along with output in the phantom economy.

Fourth, the traditional method of choosing a portfolio of assets that balances risk and return is now passé in jumbienomics. There is no need for the insight that comes from such tools as the Markowitz efficiency frontier or the CAPM. This was most recently highlighted by the proposed NIS investment in the Berbice Bridge project. The new paradigm it would seem puts all eggs (or most eggs) in one basket; NIS is exposed directly through the amount of funds it invests into the bridge project and indirectly through Clico and Hand in Hand, both of which have borrowed a total of G$ 10.2 billion from the NIS and both of which are planned shareholders of the bridge project (see SN 04/02/06). The intellectual justification comes from an apparent new convert to this school, Winston Brassington, who theorizes in a letter to the NIS General Manager (also see the same Stabroek News article) that “the security of the project is tied to the assignment of bridge tolls.” Apparently perfect foresight underpins the new approach. Brassington is certain the project is viable even though the feasibility study was done in the early 1990s when optimistic assumptions were made.

While the above constitutes the core theoretical insights of this new approach, that school also have two broad operational frameworks. First, projects take long to complete. For instance, it took close to five years to resurface and expand five miles (from Nandy Park to Banks DIH) of Burnham’s road. The Essequibo road is another example of a very long-term project. Second, when adherents to jumbienomics are critiqued, they usually have a consistent rejoinder – that is, members of the opposition (whose members still hold on to orthodox economics) should take the lead and come up with solutions and policies. It is not the responsibility of the government to take the lead in policies.

Given such seminal insights, I believe Guyana is likely to see its first Nobel in the near future. President Jagdeo and Robert Persaud are the most likely candidates, only this time it will not be for economics but for jumbienomics or phantonomics.

Yours Faithfully,

Tarron Khemraj

TK is a disgruntled reject. A rolling stone gathers no moss.

And you forgot one of the WORLD's BIGGEST JACKASS!!!!!

8/18/1410:51 AM

Former Member

Originally Posted by skeldon_man:

TK is a disgruntled reject. A rolling stone gathers no moss.

That is better than a bilious, racist idiot as you.

8/18/1411:13 AM

Former Member

Originally Posted by Stormborn:

Originally Posted by skeldon_man:

TK is a disgruntled reject. A rolling stone gathers no moss.

That is better than a bilious, racist idiot as you.

I was going to tell Skelly that moss is not a good thing worth gathering.

IMHO, a rolling stone maintains a brilliant sheen, like TK.

8/18/1411:30 AM

Former Member

Originally Posted by Gilbakka:

Originally Posted by Stormborn:

Originally Posted by skeldon_man:

TK is a disgruntled reject. A rolling stone gathers no moss.

That is better than a bilious, racist idiot as you.

I was going to tell Skelly that moss is not a good thing worth gathering.

IMHO, a rolling stone maintains a brilliant sheen, like TK.

TK, despite has commitment as a professor, focuses on pertinent areas for us and offer his opinion. If one is concerned with his treatment one should addresses that.

Instead these sub morons could yap constantly with a fishwife's acumen at his heels day in day out and actually believe they are truly being informative.

8/18/1411:47 AM

Former Member

Originally Posted by Nehru:

Originally Posted by skeldon_man:

Originally Posted by JB:

Stabroek News
Thursday April 6, 2006

The New Science of Jumbienomics

Dear Editor,

Over the past few years Freedom House, led by President Jagdeo and Robert Persaud, has pioneered a new branch of economics – jumbienomics (formed by combining jumbie and economics) or phantonomics (the composite of phantom and economics). The latest proposition of this new discipline holds that development is measured by a cement shortage. This thesis was submitted recently by A. Persaud (SN 04/01/06). A. Persaud and others in that school emphasize a cement shortage as a measure or progress over such measures as the growth of the official economy, unemployment rate, poverty rate, and Guyana’s ranking on the HDI.

I do not believe Guyanese fully appreciate the innovations coming out of Freedom House in recent years. Please allow me, therefore, to outline a few of the other propositions that have been forthcoming over these past few years.

First, a feasibility study is only necessary after the project has started as was the case with the cricket stadium. On the other hand, when a feasibility study is actually conducted it is kept a secret as is the case with the proposed Berbice Bridge. Fortunately lesser mortals like I can still look at the proposed price structure and infer something about the sustainability of the bridge project. For example, the proposed high price implies the adherents of phantonomics are trying to equalize the present value of the future stream of incomes to the present value of the future stream of costs. Hence, if the future stream of costs are high as one would expect of a floating bridge (remember how costly it was to overhaul the Demerara Harbour Bridge) the expected toll rate must likewise be high in order to make the project feasible. If for instance the price structure is similar to that of the Demerara Harbour Bridge, the project is likely to be unsustainable. Jumbienomics, it would seem, is not too concerned about the long-term welfare implications of a project.

Second, poverty and unemployment decline in an economic depression. Despite eight years of negative or near-zero GDP growth rates, unemployment is nine percent as Robert Persaud has consistently argued (see my letter in SN 01/04/06). This insight which is now prominent in the jumbienomics school has overturned decades of orthodox literature in macroeconomics and development economics. Okun’s law and the Phillips curve, for instance, are no longer relevant conceptual tools.

Third, development finance comes from the underground economy (or phantom economy as Prof. Thomas recently labelled it), remittances and foreign aid. It should be obvious now why followers of this school of thought do not pay much attention to official GDP numbers, unemployment or HDI rankings. Remember, the cement hypothesis is now relevant along with output in the phantom economy.

Fourth, the traditional method of choosing a portfolio of assets that balances risk and return is now passé in jumbienomics. There is no need for the insight that comes from such tools as the Markowitz efficiency frontier or the CAPM. This was most recently highlighted by the proposed NIS investment in the Berbice Bridge project. The new paradigm it would seem puts all eggs (or most eggs) in one basket; NIS is exposed directly through the amount of funds it invests into the bridge project and indirectly through Clico and Hand in Hand, both of which have borrowed a total of G$ 10.2 billion from the NIS and both of which are planned shareholders of the bridge project (see SN 04/02/06). The intellectual justification comes from an apparent new convert to this school, Winston Brassington, who theorizes in a letter to the NIS General Manager (also see the same Stabroek News article) that “the security of the project is tied to the assignment of bridge tolls.” Apparently perfect foresight underpins the new approach. Brassington is certain the project is viable even though the feasibility study was done in the early 1990s when optimistic assumptions were made.

While the above constitutes the core theoretical insights of this new approach, that school also have two broad operational frameworks. First, projects take long to complete. For instance, it took close to five years to resurface and expand five miles (from Nandy Park to Banks DIH) of Burnham’s road. The Essequibo road is another example of a very long-term project. Second, when adherents to jumbienomics are critiqued, they usually have a consistent rejoinder – that is, members of the opposition (whose members still hold on to orthodox economics) should take the lead and come up with solutions and policies. It is not the responsibility of the government to take the lead in policies.

Given such seminal insights, I believe Guyana is likely to see its first Nobel in the near future. President Jagdeo and Robert Persaud are the most likely candidates, only this time it will not be for economics but for jumbienomics or phantonomics.

Yours Faithfully,

Tarron Khemraj

TK is a disgruntled reject. A rolling stone gathers no moss.

And you forgot one of the WORLD's BIGGEST JACKASS!!!!!

Hello watch your mouth. It big and loud.

8/18/1411:58 AM

Former Member

Originally Posted by Vish M:

skeldon_man ,

You are dismissive.

Did you even read the article?

Critique his letter and do justice.

Your comment is similar to a "like" on FB......no thought

When the man refused to respond to a simple question I put to him, I have no respect for him. I am not running and will not run for public office. Are you?????? I don't have to please anyone. Gwan dah side!

8/18/146:08 PM

Former Member

Originally Posted by skeldon_man:

Originally Posted by JB:

Stabroek News
Thursday April 6, 2006

The New Science of Jumbienomics

Dear Editor,

Over the past few years Freedom House, led by President Jagdeo and Robert Persaud, has pioneered a new branch of economics – jumbienomics (formed by combining jumbie and economics) or phantonomics (the composite of phantom and economics). The latest proposition of this new discipline holds that development is measured by a cement shortage. This thesis was submitted recently by A. Persaud (SN 04/01/06). A. Persaud and others in that school emphasize a cement shortage as a measure or progress over such measures as the growth of the official economy, unemployment rate, poverty rate, and Guyana’s ranking on the HDI.

I do not believe Guyanese fully appreciate the innovations coming out of Freedom House in recent years. Please allow me, therefore, to outline a few of the other propositions that have been forthcoming over these past few years.

First, a feasibility study is only necessary after the project has started as was the case with the cricket stadium. On the other hand, when a feasibility study is actually conducted it is kept a secret as is the case with the proposed Berbice Bridge. Fortunately lesser mortals like I can still look at the proposed price structure and infer something about the sustainability of the bridge project. For example, the proposed high price implies the adherents of phantonomics are trying to equalize the present value of the future stream of incomes to the present value of the future stream of costs. Hence, if the future stream of costs are high as one would expect of a floating bridge (remember how costly it was to overhaul the Demerara Harbour Bridge) the expected toll rate must likewise be high in order to make the project feasible. If for instance the price structure is similar to that of the Demerara Harbour Bridge, the project is likely to be unsustainable. Jumbienomics, it would seem, is not too concerned about the long-term welfare implications of a project.

Second, poverty and unemployment decline in an economic depression. Despite eight years of negative or near-zero GDP growth rates, unemployment is nine percent as Robert Persaud has consistently argued (see my letter in SN 01/04/06). This insight which is now prominent in the jumbienomics school has overturned decades of orthodox literature in macroeconomics and development economics. Okun’s law and the Phillips curve, for instance, are no longer relevant conceptual tools.

Third, development finance comes from the underground economy (or phantom economy as Prof. Thomas recently labelled it), remittances and foreign aid. It should be obvious now why followers of this school of thought do not pay much attention to official GDP numbers, unemployment or HDI rankings. Remember, the cement hypothesis is now relevant along with output in the phantom economy.

Fourth, the traditional method of choosing a portfolio of assets that balances risk and return is now passé in jumbienomics. There is no need for the insight that comes from such tools as the Markowitz efficiency frontier or the CAPM. This was most recently highlighted by the proposed NIS investment in the Berbice Bridge project. The new paradigm it would seem puts all eggs (or most eggs) in one basket; NIS is exposed directly through the amount of funds it invests into the bridge project and indirectly through Clico and Hand in Hand, both of which have borrowed a total of G$ 10.2 billion from the NIS and both of which are planned shareholders of the bridge project (see SN 04/02/06). The intellectual justification comes from an apparent new convert to this school, Winston Brassington, who theorizes in a letter to the NIS General Manager (also see the same Stabroek News article) that “the security of the project is tied to the assignment of bridge tolls.” Apparently perfect foresight underpins the new approach. Brassington is certain the project is viable even though the feasibility study was done in the early 1990s when optimistic assumptions were made.

While the above constitutes the core theoretical insights of this new approach, that school also have two broad operational frameworks. First, projects take long to complete. For instance, it took close to five years to resurface and expand five miles (from Nandy Park to Banks DIH) of Burnham’s road. The Essequibo road is another example of a very long-term project. Second, when adherents to jumbienomics are critiqued, they usually have a consistent rejoinder – that is, members of the opposition (whose members still hold on to orthodox economics) should take the lead and come up with solutions and policies. It is not the responsibility of the government to take the lead in policies.

Given such seminal insights, I believe Guyana is likely to see its first Nobel in the near future. President Jagdeo and Robert Persaud are the most likely candidates, only this time it will not be for economics but for jumbienomics or phantonomics.

Yours Faithfully,

Tarron Khemraj

TK is a disgruntled reject. A rolling stone gathers no moss.

Maybe so SM, but he has a point. Guyana's economy truly lacks depth and it's hard to see any strategy. It's seems the PPP make hay with each day of sunshine and keep their fingers crossed and hope the sun comes out somewhere.

8/19/146:33 AM