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Time for a total overhaul of the political economy

Time for a total overhaul of the political economy
President William Ruto. PHOTO/Courtesy.

Communicators often face the challenge of clearly conveying information on complex political, social and economic issues to diverse multiple audiences.

The challenge is even greater delivering heart-wrenching information to humanity at extreme poles of intellect, socioeconomic status and political persuasion.

How does a communicator connect with poverty-ridden, hunger-stricken, politically ignorant citizens to make them “understand” their predicament? In a cruel environment where policymakers perpetually preach illusionary democracy, human rights, equality, inclusion and prosperity.

Studies of the world’s current leading scientists (political scientists included), economists, and leaders of global institutions however reveal a unanimous conviction:

Humanity faces an existential threat from climate change. Only a total overhaul of the global political economy to defeat inequality and poverty whilst saving our planet from climate crisis and environmental destruction will avert this impending catastrophe.

It is an urgent call to transform political economies from top to bottom. Kenya’s political economy is intrinsically intertwined with these global challenges.

The International Monetary Fund last week warned that the world faces a rough ride – more than one-third of global growth is forecast to contract over 2022/2023 locked in a cost-of-living crisis fuelled by inflation, Russia’s war in Ukraine, and climate disasters.

The worst is yet to come as we experience the nastiest periods of economic growth in the last two decades, threatening a recession, surpassed only by the 2008 global financial crisis and the start of the Covid-19 pandemic.

Global growth is forecast to decelerate sharply from 6 percent last year to 3.2 percent this year and again slow down next year to just 2.7 percent, likely plunging below 2 percent. Global inflation will peak at 9.5 percent this year, remaining elevated longer than forecast.

These shocks continue to harm people’s lives in vulnerable countries, raising prices and shrinking incomes besides debt burdens, conflict, food insecurity and malnutrition. The inequality gap between millionaires and the poor is widening alarmingly.

Sadly, donor countries are cutting back on aid when suffering is growing among the vulnerable, with hunger rising and poverty reduction grinding to a halt. This is an unprecedented setback on the 17 sustainable development goals (SDGs) after decades of progress.

National and county leaders are reminded that citizens are barely surviving in complex times that require steady hands at the policy levers. The price of policy missteps and poor communication of policy intentions can be very costly.

Those in authority should put the talk on the last election behind us. Reconfigure our unflattering catalogue of political woes, deceit, negative ethnicity, corruption, prohibitive cost of living, unemployment and poverty.

Integrate all these challenges into national political, economic and social programmes while seeking solutions that touch directly on people’s lives and livelihoods, prioritizing the climate crisis.

Drought, starvation and other crises are increasing the number of the poor, hungry, unhoused, under-educated, ailing and dying in our society. Rising inequality risks national collapse amid the looming threat of a climate catastrophe engulfing us all.

Citizens are demanding political economy systems change that goes beyond sloganeering and a singular focus on profit and growth – to one encompassing poverty reduction, and human and nature’s health.

Transparency and accountability in governance and the people’s full participation in the budget-making process is an inalienable right enshrined in the Constitution.

— The writer comments on political and economic affairs. [email protected]  

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