In the recent article of Dr. Richard Ebeling a professor at Citadel College of South Carolina USA to the Institute of Economic Research, he wrote “the hallmark of a truly free market is all association and relationships are based on voluntary agreement and mutual consent. Then Dr. Walter E. William a professor at George Mason University USA succinctly echoed it as, in the free market society, people are morally and legally viewed as sovereign individuals, possessing rights to their life, liberty, and honestly acquired property. Dr. Ebeling finalized his interpretation by stating that in free-market practice, you only improve your own position by improving the circumstances of others.
In this market, whether you are pure or applied scientists in the cover of any branding either an ivy league graduates exploring marketing opportunities in the industry or an intellectual offering services. One thing is evident, your brand exposure increases one business network coverage as a potential candidate perceived to be qualified to render a quality solution to the market for the beneficiaries in exchange for a reward. Which this article defined it as phase one of market engagement as an aspect of the market relationship, then come to the second phase, which requires the actors to justify by deeds as a proof of the quality of skills in discharging the task through talents, ability, and efforts. It is at this stage, the owner of the services gains credence and value to sustain the appetite of customers and maintain the relationship of business under the sovereign will of both parties to the extent that some customers are willing to recommend other networks, refer relatives and partners to patronize the services. This is what sustains every Entrepreneur into business in such a market. And such is the highest authoritative in moral and ethical codes one could experience in a free market-based system.
But unfortunately on the continent of Africa, which I have specialized my writing for, it huge problem is the inability to distinguish the phase-one market engagement from phase –two market relations as described in this article. Knowing the difference between leveraging on college reputation and family credence if any to establish a perceptional network towards the second stage of justifying, whether you could live up to expectation in accordance with the market perception of you. It is observed most of the actors fail in the latter, then turn to join and adopt a radical view of socialist mainstream ideology, which it adepts are mostly noted in association with weak professional skills to independently discharge task to the satisfaction of customers in comparison to the perception of competence raised around themselves as a brand hence the socialist viewpoint of coerced market control becomes a camouflage to sustain sovereignty of brand perception lacking a corresponding service satisfaction. And such an act only offers protection in favour of service owners of their poor market engagement as injustices against the customers’ ability and legal right to question the poor standards of services offered by the market.
As a result, most of these actors finds political industry as a lucrative enterprise in a means to run private business as well as a conducive environment to run shady business deals to become rich overnight not by competency or quality of skills and use the same office to vilify competent enterprises of such market in honest and hardworking delivering as a means not to expose the fraudulent delivery of their business in comparative to the quality performing enterprise for the market benefit.
I am among the few scholars who celebrate the ideal nature of the automated trading platform for securities trading, as a free market-based rule system, it requires anyone to justify competency to determine your reward. It careless of who you claim to be but focus on what you can do as an investment trader. Furthermore devoid of any political excuses and stories to justify failures and low graded skill performance, enviously seeking to earn the reward of competently hardworking and talented service providers in the same market.
Emmanuel Tweneboah Senzu, is an associate professor of Applied Economics and Investment Banking, Frederic Bastiat Institute, IPAM University Sierra Leone. Member of the Technical team of Sierra Leone Central Bank under the leadership of Dr. Jacob Abraham Emerson, and a research fellow to West Africa monetary zone ( WAMZ)