Home >> Global Organizations >> World Bank and IMF  Email  Print Polit – X's and Polis – Y's Billionaires Aleksandar Dimishkovski - 10/8/2007 Where even the common people can't tell the difference between 5 and 50 billion euros, governance, policies and politics are usually the perverse and in the same time the most efficient solutions for instant material gain. Or, it is so at least in the neighborhood of the birthplace of the Polis - The Balkans.
Though tremendously amusing to observe, both from the communicative as from the anthropological point of view, it's becoming degenerative and it is contributing towards its own defeat. Thus, politics and policies are divorced from their raison d'etre, the country's prosperity, as reflections of its citizens's interest. In other words, they mutate into anarchy.
What is the difference between 5 and 50 billion euros – there is none. It is humanly impossible for a man or a family to spend that amount of money in one lifetime. And this is not the paradox of the post-transition societies. Actually the paradox is the fact that even those who live below every internationally recognized level of poverty are dreaming of owning billions, not merely thousands or millions.
The catch is that in most cases the post-transition countries used to have enormously low exchange rates for the domestic currency. This was done for two reasons. The first and the official one was to stimulate the planned type of economy to be more competitive on the international market. The second, the unofficial and the main reason was for everybody to feel like millionaires. And as in "Only fools and horses", the phrase "this time next year we will be millionaires" now is a moving force in the post – communist societies.
In some of these countries poverty has knocked on the doors of more than 30 percent of the population. This means that one third of the country's population is living with less than one dollar per day. But these folks are not excluded from the chase for the collective orgasm called "being a billionaire".
The Zero Power
One of the by-products of this social movement is the misidentification of being smart, successful and powerful with being a billionaire. So, this pretty much coerces the ones with power - the politicians more so - to feel obligated to be billionaires also.
In fact, statistics show that in many post-transition countries politicians or ex-politicians are usually the wealthiest citizens.
And it is known that people do take this obligation to self-enrichment seriously and don't mince ways or steps towards its indulgence. This way, the race for an extra zero on the account is becoming inescapably teasing for the country's society. And what should have been a 100 meters race turned out to be an open marathon!
However, what is allowed to the citizens and the friends of the family usually is untouchable for foreigners. It is hard to get enrolled in this type of chase, if you are a foreigner.
Thus, from a purely economic point of view, this may mean that these countries are not as FDI friendly as they would like to present themselves. Because every new competition can and will mean a new obstacle for someone's zero to materialize.
Nevertheless, the most frightening thing is that the pursuit of billions, created control freaks and a depressed and an internationally isolated community. And when the Moiras leave their fingerprints, the control freaks really get in power and the country is being vetoed.
One old saying in the Balkans is: "It is better to be a King in a village than a Peasant in the city". It reflects the importance of power - especially the political kind - in these societies. It is, therefore, understandable how some local daily political processes are rendered more influential than global warming, the threat of global terrorism, or the spreading of Avian flu.
ERROR! Too many zeros for the operation to be processed…
It is incredible to watch how an extra zero can change an entire society, even though in itself it has no meaning and it represents nothing. But, what should have been a fight for survival or a search for normal life, has evolved into a battle of zeros, or a struggle for nothingness.
Now this syndrome has many dangerous by-products. In the chase of billions, people tend to invest money that they don't have, so they usually borrow or search for "quick earnings" like the lottery or sports bets. The miracle of earning money, without sweating, without physical efforts, without any effort, thus de-motivates the ones that are prepared to work in every possible legal job to feed their family: from cleaning toilets, to washing the streets.
However, when what should have been a short term high profit investment fails, understandably, the loan is covered by another loan. Therefore, this process is multiplied numerous times. The result of all of this can be easily discerned in the dramatically high increase of the level of credits to common folk from the financial market in the post-transition countries. There are even cases where some people are in debt ten times their expected lifetime earnings! And the loans will probably be paid by their grandchildren.
From a macroeconomic point of view, this could be the sole reason for the disorder in the financial markets which could contribute to the breakdown of the macroeconomic balance. The credit risk is increasing, money is becoming more and more expensive and so even more desirable.
Thus, the society creates another must do, unethical rule of using every possible opportunity for quick and "fat" earnings. Do it while you can!
The X transformation
With this constellation, the transformation of a political order to an organized lottery, its reason for existence is deceiving, leaving behind deep wounds for the nation, and heavy social consequences. The political order now is anarchy. It is more than anarchy. The political systems are used only for several people's interests and few bank accounts. And the nothingness is what it is worth.
While corruption is booming, the determination of the country's main interest and goals is on par with a science fiction novel, written by an anonymous author. The political fight is battle of bullies, with one fighter only.
But how to pick a fight with nothingness, how to beat the zero? Aleksandar Dimishkovski is a free-lance journalist, market analyst, and a business consultant from Skopje, Macedonia.
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