­
Thursday, May 22, 2025 7:17:02 AM

Fallacy of feel-good policy

By
|
Posted on Dec 30 1998
Share

It isn’t surprising that in our quest to hasten political solutions to the current economic crisis, we’ve demonstrated a fallacious approach to resuscitating the deepening financial straits of the local government by counting the millions of fish in the open waters neglecting our catch that are already in the boat.

One such policy (where we count fish still out in the open waters) is the much publicized “free trade zone” legislation still undergoing refinement. The fish in the boat are fully established industries that now scaffold the local economy. We’ve done literally nothing to help them pace the difficult conditions brought to our shores by the Asian Crisis.

Yes, we dream of good days ahead with a piece of legislation (free trade zone) to which we have no experience with or how it would eventually pan out in the overall scheme of economic plans. We’re knocking its potential, but there’s also the need to really buckle down to probe the economic mileage or benefits that we would reap from the proposed policy.

The attitudinal fallacy and dangers of relying on fish out in the open waters (as fish in the boat) is the lengthy process it takes to set this policy in motion with hopes that it would work out favorably for the NMI. Assuming that this legislation passes through both chambers this year and signed into law, does it really define what we want in terms of the various stages of industrial development? Do we wish to engage in assembling US products for subsequent export to Asia? Or is the plan to produce hi-tech products like micro-chips, etc?

It may be a good piece of legislation but seemingly a bit too ambitious when measured against defining well thought out policies in terms of sustainable development in the NMI. We only hope that in the process, the legislature can work with equal fervor and dexterity with fish in boat over the millions of fish that are still out in the open ocean. And we trust that it would take time to view both issues with commitment to improve upon both our fish in boat and fish to which we aren’t even sure if they’d ever bite the bait. Si Yuus Maase` yan ghilisow!

Disclaimer: Comments are moderated. They will not appear immediately or even on the same day. Comments should be related to the topic. Off-topic comments would be deleted. Profanities are not allowed. Comments that are potentially libelous, inflammatory, or slanderous would be deleted.