Skip to main content

5 things government should subsidize.


People submit themselves to government becàuse they believe that government has the resources to make life comfortable in ways most individuals can’t. 


Government everywhere knows this or should know this fact. 


In places, where the legitimacy and acceptability are obtained by popular means, people who seek public offices promise to make life easier for the masses by lowering costs of essential goods and services.


One of the popular ways people-centric government keeps this promise is by subsidizing the costs of  filling basic needs. 


The costs of filling the following basic needs are often subsidized by governments that empathize with the sufferings of their people are:


1. Education,

2. Food,

3. Quality health care,

4. Decent housing and,

5. Energy.


People friendly governments subsidize costs of satisfying these needs because they understand that;


1. When the most people have access to quality education, they would in return use their acquired skills to support governments efforts to strengthen the economy and develop the society for everyone.

2. Without food, people will starve. A society populated by hungry people breeds violent crimes. The costs of, in the least, controlling violent crimes are more than the costs of preventing them.

3. Health is wealth. A healthy person is a happy person. A responsible government would always prioritize the enlargement of accessibility to quality health care for its people.

4. People need decent places to call homes. 

5. Easy accessibility to quality and cheap sources of energy would boost industrialization efforts by both public and private sectors. 


Such efforts would produce more jobs for the people,  increase the availability of quality products at cheap prices, increase the gross domestic  product, increase the per capita income of the people and produce a robust economy. 


At least, the cost of food and energy should be subsidized by governments. 


Kristalina Georgieva, IMF boss agrees;


"Governments need to subsidise the cost of food and energy for the poorest members of society."



Labels:

Comments

Post a Comment

Popular posts from this blog

15 Surprising Benefits of Journaling (and How to Start).

  Benefits of Journaling. This article was first published on Ayi Post. What Is Journaling? Journaling is the simple yet powerful act of writing down your thoughts, feelings, experiences, and ideas, usually in a private notebook, app, or document. You can approach it in a structured way (like using daily prompts) or completely free-form (writing whatever comes to mind).  Some people use journaling to reflect on their day, plan goals, vent emotions, spark creativity, or even track habits and dreams. At its core, journaling is like having a deep, honest conversation with yourself,  providing a safe space to explore what’s happening inside your head and heart. (Tip: There are tons of journaling styles you can try based on your goals! Scroll down for examples.) Famous People Who Swear by Journaling. Many successful people use journaling as part of their self-care and success routines. Here are a few notable examples: 1. Oprah Winfrey: Credits gratitude journaling for her happ...
Post a Comment
Read more

9 High yield savings accounts in Nigeria.

High yield savings account in Nigeria Here are nine Nigerian banks known for offering high-yield savings accounts, as of the latest available data.  The interest rates can vary, so it’s always a good idea to check with the banks directly for the most up-to-date offers. 1. GTBank (Guaranty Trust Bank)    Known for competitive interest rates on savings accounts, including specialized savings products like the GTSave savings account. The GTSave offers a competitive interest rates at 8.175%. 2. Access Bank     Offers a variety of savings products with attractive interest rates, especially on their Access Bank High Interest Savings account. Access bank premier savings accounts attracts interest rate of  8.175%p.a paid monthly. 3. Zenith Bank    Provides various savings products with good returns, including the Zenith Bank High Yield Savings account. Zenith bank has an account called Save4Me. Save4Me  is a savings account with a higher interes...
Post a Comment
Read more

Naira Redesign, Withdrawal Limits And Credit Worthiness of Nigerians.

  Currency redesign by the Central Bank of Nigeria and its complementary withdrawal limits have come to stay. The recent news from the Central Bank of Nigeria (CBN) is an indication of the near irreversibility of the policy implementation. The news claimed that volume of currency in circulation, not in vaults of banks has dropped by at least 5 percent in just one month. So withdrawal limits are going to be enforced to the letter but Nigerians may not have the luxury of time (Senate is urging CBN to set June 30, 2023 as the new deadline).  In the event of no deadline extension beyond January 31st, 2023, how're Nigerians going to make urgent purchases above weekly withdrawal limits? Or even make long term arrangements? Financial transactions are often done on two bases, cash and credit. In many economies, where individuals take their creditworthiness serious, most financial transactions are done on credit basis. In Nigeria, it's mostly on cash basis and soon, this is no longer g...
Post a Comment
Read more