Cronyism restricts freedom, prolongs poverty

Collusion between the governments and their cronies has a great impact on legislative, administrative and regulatory power in a country. It is a form of corruption that has existed since ancient times. The covert or overt influence of government officials or those close to them in the private sector is morally unacceptable. And it can also harm a country's economic freedom.   

Cronyism in business is totally contrary to the fundamental policies and rules that promote economic opportunity. Any citizen from any nation should enjoy equal economic rights and unbiased loan systems in today's market economy. They deserve a chance at individual success. Only with such measures will a country develop based on the success of hardworking citizens.    

Today, many people have blamed their financial difficulties on market economy, and they feel they are being economically exploited. What they do not see is that what really stifles them is the system of economic privileges based on cronyism. Many people across the world try hard to become entrepreneurs. They, however, have difficulty achieving their goal unless they have close relations with powerful politicians or authorities.  

Every citizen should enjoy equal opportunity, fair competition and the right to borrow money in order to do business in market economy. These are the correct procedures for any country with a market economy to alleviate poverty and achieve sustainable economic development.   

However, the world still gets tangled in cronyism and corruption. Crony businessmen are accumulating extreme wealth from their businesses in collusion with authorities. Meanwhile, millions of ordinary people, despite having been born in the same country, have no chance to enjoy the rights they deserve in doing business.

The Daily Eleven hereby concludes that Myanmar should be well aware of the fact that poverty is related to cronyism and a lack of economic freedom.