“…Western officials say they hope West Africa, though it has less reserves than the Middle East, may turn into a viable alternative supplier to
excerpt of UPI Energy report published April 11, 2008.
“We get our breakfast not because of the benevolence of the baker, brewer and butcher, but because they are pursuing their self-interests.”
Adam Smith. Scottish economist.
excerpt from book ‘The Wealth of Nations” first published in 1776.
“We should engage
Mikheil Shakashvilli. President of
-excerpt of interview on Russian-Georgian tense relations, given in early July 2007.
“… I say again, I’m not anti-Democrat, I’m not anti-Republican. I’m not anti-anything. I am just questioning their sincerity, and some of the strategy that they have been using on our people by promising them promises that they don’t intend to keep. No, I’m not an American. I’m one of the 22 million black people who are victims of Americanism. One of the 22 million black people who are victims of democracy, nothing but disguised hypocrisy. So, I’m not standing here speaking to you as an American, or a patriot, or a flag-saluter, or a flag-waver, not I. I am speaking as a victim of this American system. And I see
of America- America’s conscience is bankrupt. She lost all conscience a long time ago. Uncle Sam has no conscience. They don’t know what morals are. They don’t try to eliminate evil because it’s evil, or because it’s illegal, or because it’s immoral; they eliminate it only when it threatens their existence. So, you are wasting your time appealing to the moral conscience of a bankrupt man like Uncle Sam. If he had a conscience, he’d straighten this thing out with no more pressure being put upon him. So, it’s not necessary to change the white man’s mind . We have to change our own minds about each other. We have to see each other with new eyes. We have to see each other as brothers and sisters. We have to come together with warmth so we can develop unity and harmony that’s necessary to get this problem solved ourselves. How can we do this? How can we avoid jealousy? How can we avoid the suspicions, divisions that exist in the community? I’ll tell you…?
excerpt of speech.
II. ECONOMIC FACTOR AND SELF-INTEREST.
The
Before going deep into our analysis, it is important to explain what is meant by economic ‘self-interest.’ Self-interest should not be confused with ‘selfish interest.’ Self-interest is about defending your interests with your ‘own’ resources, and not other people’s resources. Self-interest is about trying to get ‘the best deal’ for yourself with your own resources. For example, when you are negotiating a vacancy, you try to sell your labour, skills or knowledge, which in this case, is your resources, to the highest bidder. In other words, you try to negotiate the best terms or package available for yourself – salary, company car, health and car insurances, refund of travelling expenses, longer holidays, paid maternity leave, payment for professional trainings and courses, payment for mobile phones and international calls, personal secretary, e.t.c. Since labour, like all other resources, is ‘scarce or limited in supply’ in the sense that, you are an individual with limited number of working hours, which puts a limit on the number of companies that you can physically work for, therefore, you try as much as possible to get the maximum value from it. This is a ‘normal’ and ‘rational’ position. Likewise, if you own a company, and you are negotiating deals for your company, you try as much as possible to get the best deal. But selfish interest is when you defend your interest(s) using other people’s resources, moreover without their approval. Selfish interest is defending your interests at the ‘expense’ of others. Selfish interest is taking over or depriving others of what belongs to them by right. Selfish interest is solving your problems to the detriments of others.
We will be applying this rational theory to the economic relationship between the south and the north. This rational theory approach is appropriate as an analytic instrument taking into consideration the fact that resources, including mineral resources, are limited in supply, therefore, we should not just be interested in trading them, but trading them or exchanging them for the maximum price possible in the free market. Acting otherwise will be irrational, against common sense and unwise. Therefore, we are going to approach the economic and political relationship ‘strictly’ from the position of a ‘shrewd’ businessman who wants to get the maximum value for his products or resources, which are limited in supply, and not from the position of a philanthropist or an altruist. The logic behind our rational theory approach is both natural and based on common sense.
INVESTMENT OR ROBBERY?
So, the 1 billion dollar question is “Why should the south, or the