alibomics

Someone once said that in business you do not need big money but big ideas. This is very true. How big an idea is is dependent on how the conceiver proves it to be. On the other hand one cannot rule out the fact that in some cases you need money to carry out your ideas. The money you may be considering may be big to you. Many ‘big’ business ideas have not been implemented due to the lack of financing. In this piece you will read about how to build a financial stronghold. Young men will also be given a clue as to how to secure their finances for the future. A financial stronghold is a stock of reliable financial resources.   Everyone wants to have enough money to do what they want to do. Some fall sick as a result of worrying about how to get money; others cowardly kill themselves simply because they do not know how to find money. Some too wickedly commit crime. But you can secure your finances gradually by building a stronghold. One way to build a stronghold is to av...

Do you not wonder why some roads in your country are so old yet are better than others? Your observation is not too odd. Many people have observed same.  I will lament this situation with examples from Ghana. When my family moved to Tamale 11 years have passed. The roads in Tamale township have not seen any significant repairs, at least not that I have witnessed. Occasionally though, a few spots get parched up. Currently, almost all the roads in Tamale Township which I have used since elementary school are well motor able. The road linking Bolga to Tamale is not bad either though it is quite old. However the situation has not been the same for the roads that link Techiman, Kumasi and Tamale.  These roads have for a long time been ‘decorated’ with potholes.  The road linking Accra, the capital city, to Nsawam and Nkawkaw is not just decorated but dressed in potholes. Same can be observed on the roads that link Agona Swedru to Nsaba, Oda; Bolga to Bawku, and man...

For some time now I have been wondering why taxi drivers would take same fare for a distance and half the distance.  Why should one have to pay 60p from Legon to Madina and same fare from ‘’Trinity’’ to Madina? Or why they charge 60p from the Legon police station to the campus and same from the police station to Okponglo junction. People who are price responsive and consciously match their utility to price like me may have wondered same. I have finally realised that it is in their own interest to charge according to distance covered rather than keep a flat rate for all distances. Think of the utility maximisation theory where a person equates utility to price, and will be willing to pay less for successive units of the commodity than for the earlier units.  Under this theory a consumer’s aim is to maximise utility. The consumer’s utility is maximised when the satisfaction they derive from consuming the commodity is equal to the price or cost they pay for it. ...

There is much talk about inflation in the media in recent times. “Radioteleconomists” have presented different and ofthen misleading interpretations in discussions. This piece  seeks to present the subject from a somewhat informed perspective. Inflation, properly defined is a continuous increase in the general price level in an economy over a given period of time. It is calculated by measuring how prices of selected goods and services change over a given time. So if the rate of inflation is 10% for a given month, it means that the price level of all the goods under consideration have increased by 10% over the level of the previous year’s corresponding month. So say, January last year against January this year. Assuming that it costed 100Cedis to buy a set of 20goods under consideration (i.e.CPI basket) in January 2011, it now cost 110Cedis to buy the same set of goods in January 2012. The price increase should however not be due to improved quality. An improvement in quality w...