Not to confuse our readers, the meaning of our title is that development is less expensive than underdevelopment. In other words, underdevelopment is in fact more costly than development. Take the private sector, for example. Company X earned gross revenues of US$100,000 in the year ending December 31, 2014. This company is owned by Liberians who are not sitting around waiting for government jobs, but have taken the entrepreneurial risk to go into business. Cost of goods sold and services rendered amounted to US$90,000. That means Company X only realized profits of US$10,000 in 2014. Company X is very efficiently run; but one solitary cost item sucks its profit margin dry. Fuel, used to generate electricity. This accounts for US$30,000 of the company’s budget per annum. The country in which it operates does not produce electricity. Home and business owners use what they can afford – anything from candles to diesel. Had affordable electricity been available, Company X projects that it could be doing at least 20% more business, which means hiring more workers (creating more jobs) and widening its profit margins. Multiply that by 10,000 Liberian businesses, and this amounts to tangible economic growth that does not require the manipulation of the numbers. A Liberian banking official recently told the Daily Observer that his bank is presently caught between a rock and a hard place, as are most banks operating in the country. In order to compete in the banking sector, his bank wants to begin offering debit cards. However, the servers that will keep the system operational 24/7 will need to be powered 24/7. In the absence of affordable electricity, that would be a major expenditure that the bank may not be able to afford. In business, the logical thing to do would be to pass the cost on to the customer; but if said cost is too high, customers may opt for a competitor who offers the same service for less. So if Bank X charges customersUS$5 per debit card transaction while Bank Z charges US$4, customers may opt for Bank Z unless Bank X offers other services that offset the cost and appeal to customers, causing them to stay. This banking official said that even foreign based banks operating here in Liberia are feeling the pinch of high energy costs; but for them, high profit margins in other markets absorb the losses incurred in Liberia. Unfortunately for small and medium-sized Liberian businesses, they do not have the luxury of subsidiaries that can absorb losses. As such, SMEs and large corporations alike struggle despite their best efforts to stay afloat.It applies across the board. Bad roads (underdevelopment) make business and private cars much more expensive to maintain and own. Bad roads also make transportation much more difficult, hence expensive. Business owners then have to pass the cost on to customers and the price of food skyrockets. How does this relate to development? If an enabling environment is created to enable businesses to thrive, they will. If, due to the availability of affordable electricity, the cost of doing business is lower, the prices of goods and services, especially essentials such as food and water, will also be lower for consumers, who may then opt buy more. Businesses will themselves be empowered to expand and pay taxes into government coffers. In this way, development (affordable electricity) is less expensive and more profitable than underdevelopment for businesses, consumers and government alike.Underdevelopment becomes even more unprofitable for governments from a legacy standpoint and from a stability standpoint. An administration that leaves a country underdeveloped will be judged very harshly in the annals of history. Every cabinet minister and executive who worked in that administration will be judged accordingly. Stability-wise, it is no secret in underdeveloped nations that when the level of underdevelopment reaches the critical point where it threatens citizen’s ability to feed their families, the perception of corruption takes over and anger sets in. The rest is effectively what we call history.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
Where Ancelotti ranks with every Premier League boss for trophies won England’s most successful clubs of the past decade, according to trophies won possible standings How the Premier League table could change after the Boxing Day fixtures no dice smart causal Every current Premier League club’s best kit from the past decade tense The Gunners started out with two defeats to Chelsea and Manchester City, but have since bounced back to beat West Ham and Cardiff.Meanwhile. the Magpies lost to Tottenham, Chelsea and Manchester City, before claiming their first point of the campaign against newly-promoted Cardiff. Arsenal take on Newcastle United on Saturday aiming to seal a third successive Premier League win of the season.Hosts Newcastle are yet to win this term, picking up just a single point from their opening four fixtures. silverware Green reveals how he confronted Sarri after Chelsea’s 6-0 defeat at Man City REVEALED Oxlade-Chamberlain suffers another setback as Klopp confirms serious injury Arsenal boss Unai Emery, meanwhile, has named an unchanged team for the clash at St James’ Park.That means Alexandre Lacazette again partners Pierre-Emerick Aubameyang in attack.Lucas Torreira is yet to start for the club and once more has to settle for a spot on the bench.Arsenal confirmed XI: Cech, Bellerin, Mustafi, Sokratis, Monreal, Xhaka, Guendouzi, Ramsey, Ozil, Aubameyang, Lacazette. Subs: Leno, Lichtsteiner, Holding, Elneny, Torreira, Mkhitaryan, Welbeck. 3 Which teams do the best on Boxing Day in the Premier League era? Premier League Team of the Season so far, including Liverpool and Leicester stars Son ban confirmed as Tottenham fail with appeal to overturn red card 3 REVEALED gameday cracker DeAndre Yedlin scored his side’s goal at Man City shining Latest Premier League News Where to stream live commentary Newcastle United vs Arsenal?The match will be live to listen to on talkSPORT 2 for a 3pm kick-off on Saturday, September 15. Click here to listen through the website.You can also listen via the talkSPORT App or on DAB digital radio.Team newsNewcastle Confirmed XI: Dubravka; Yedlin, Lascelles, Fernández, Dummett, Ritchie, Hayden, Diame, Murphy; Pérez, Joselu. Subs: Darlow, Clark, Shelvey, Rondon, Muto, Kenedy, Manquillo.Newcastle make four changes to the team beaten by Manchester City last time out.Isaac Hayden, Matt Ritchie, Jacob Murphy and Joselu comes into the side at the expense of Ciaran Clark, Ki Sung-yueng, Kenedy and Salomon Rondon.Jonjo Shelvey is back fit after injury but has to settle for a spot on the bench. Arsenal showed both attacking power and defensive vulnerability in their win at Cardiff Newcastle host Arsenal at 3pm on Saturday Boxing Day fixtures: All nine Premier League games live on talkSPORT huge blow 3
Global sports media outfit Perform Group, which operates the DAZN sports OTT TV service, has named former ESPN president John Skipper as its executive chairman.Skipper, based in New York, will oversee all of Perform Group’s operations and strategy and report to the Board. Simon Denyer, Perform Group’s Founder, will continue as CEO based in London.Perform is majority-owned by Len Blavatnik’s Access Industries. Commenting on the appointment of Skipper, Blavatnik said that Perform was “one of the most important brands in the sports media industry and a key holding in the Access portfolio”.Skipper resigned from ESPN in December, citing “substance addiction” as a reason for his surprise departure. He later told the Hollywood Reporter that a cocaine dealer had attempted to extort him. He was replaced on an interim basis by ESPN executive chairman George Bodenheimer.“Simon and his team have built an enormously impressive company, providing an excellent base to establish a global leadership position in the over-the-top sports subscription business, the clear future of sports delivery. Perform Group’s platform and expertise, coupled with its success in launching subscription services in Germany, Japan and Canada provides a model we intend to replicate around the world,” said Skipper“Perform is rapidly expanding its role in sports media with significant investments in the best content and our own platform. We are now preparing to push forward with the expansion of DAZN, our live and on-demand streaming service, in more major markets around the world. DAZN is revolutionising how fans watch their favourite sports. John is one of the most significant leaders in the history of our industry, and I am delighted that he has agreed to join me and the team to help take Perform to the next level of our ambitions,” said Denyer.