Tuesday, May 19, 2026
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IDEOLOGY OF COMMON SENSE

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In decades past, the anchoring political ideologies in the West mainly rested on the amorphous yet dichotomously charged categories of left and right. To be sure, extreme parties of either never really usurped full state power in the nation-states of the West, at least not after WWII. It was usually center left or center rights political parties that worked the administrative organs/governments of the state in a revolving manner. Currently, the traditional polar positions of opposite parties seem to have come together on certain concrete issues. This doesn’t mean political ideologies are fusing together, far from it. But there are indications that agreements can be reached on certain critical matters, thereby forging temporary alliance between formerly and formally polarized political positions!
War is something many a sheeple (human mass) would consider an abomination, yet the war industry not only thrives, but also instigates wars so that continued profit can accrue to its associated elites. The deep state is setup to dominate others and make good with their resources. Wars of all kinds; cultural, economic/financial, educational, propaganda, etc. are employed to this end! Recall our definition of the deep state: It is the military-intelligence-industrial-banking-media-complex. The killings of innocent lives and the destruction of properties, to say nothing about the onslaught on our fragile ecosphere, are considered mere ‘collateral damages’, to use the sickening phraseology of the deep state. It is also because of the doings of the deep state, migration is becoming a major point of contention, even amongst the constituent members of empire. It is such practical matters that are bringing the traditionally polarized parties together. It seems ‘Common Sense’ is finally making a comeback. For instance, the European sheeple has started to vigorously reject the old political parties, which have always been under the thumb of the deep state. Refugees on the shores of the belligerents, ‘Yellow Vests’ on the streets of European metropolis, all have one thing in common-the utter dissatisfaction of the global status quo or what the late Samir Amin insisted on calling ‘polarizing globalization! In this regard, the so-called rightist deputy prime minister of Italy, Mr. Salvini has interesting views; he says it is the French in collaboration with NATO that destabilized MENA (Middle East and North Africa). The French he insisted still continues to colonialize countries in Africa, creating the mass exodus of people to Europe. In Italy and on this particular point, both the left leaning (Five Star Movement) and the rightist (Lega Nord) seem to be in agreement. They also refused to support the US and vassals in their project of ‘regime change’ in Venezuela!
Banking/finance is another of the component of the deep state. In late modernity finance has become, instead of an intermediary, an end on its own! In such a financialized world it is only those that are closely connected to the money spigot who benefit, rather disproportionately, from all activities, not only economic/business. Those not within the inner loop of the deep state, including the sheeple, are considered non-essentials, hence, their needs are relegated to the back burner, so to speak. But such neglects have now created consequences that are threatening to derail the groovy train of the one percenters. Since the unfettered access to all spheres of societal existence has given the market the upper hand, the ideology of ‘Common Sense’ was ostracized and visibly demoted. In a nutshell, neo-liberalization is a diktat that every thing under the sun must obey the logic of profit via commodification. To the disciples of neoliberalism, it doesn’t matter whether life is preserved or not, so long as accumulation remains paramount! The result: extreme polarization, both between and within countries, as well as catastrophe in the world of natural! Forty years of ‘waiting for goodies’, as promised by neo-liberalization, has proved untenable (comparatively speaking.) The 1% have made good on their exploits, while the rest are losing grounds on a daily basis. As we never tire of mentioning, the main culprits of this globally lopsided economic arrangement are; ‘fiat currency’ and ‘fractional reserve banking’! Here again, Mr. Salvini is spot on in regards to the ownership of the Italian gold. See the articles on page 44.
The current government in Italy is a coalition of the right and left, and yet they seem to work together on critical issues. In fact, they are spreading the words to their contemporaries in places like France and Belgium. The duos encourage the ‘Yellow Vests’ (France, Belgium, Netherlands, etc.) to take charge and change their respective governments. ‘Direct democracy is the future,’ is what they are explicitly saying to the European sheeple. See Studdert’s article next column. The old ways of doing politics by proxy proved not only inefficient, but actually became the main source of structural/political corruption within the nation-states! The reigning plutocracy is facing ‘Common Sense’ from diverse segments of society. The deep states’ wars of Syria, Libya, Yemen, etc., have impacted humanity’s conscience and is reinforcing the belief that psychopaths are not fit to run nations! In conclusion, the opposite ends of the political spectrum seem to have come together. The polar ends are joining and are forming a kind of circle, albeit on specific agenda items. Defying the simplistic categorization of left and right, might well be the world’s political future!
Here is the old language of Common Sense as it becomes relevant again. “Countries want independence, nations want liberation and people want revolution.” Chinese Communists. Good Day!

Major book focusing on Ethiopian economy launched

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The first single country handbook in Africa focusing on the Ethiopian economy has been published by Oxford University Press, although the price is extraordinarily high for Ethiopian readers.
‘The Oxford Handbook of the Ethiopian Economy’ was officially introduced during three ceremonies held last weekend at the Economic Commission for Africa for the foreign community, Ethiopian Economics Association (EEA) for economists and contributors to the book and at Ethiopian Skylight targeting the business community.
It is 1,008 pages with 50 chapters classified into six sections. The sections focus on the key areas of the Ethiopian economy including economic development, social policy, agricultural and rural transformation, industrialization and urbanization, and structural transformation in the African continent. The beginning looks at context, concepts and history.
In the book 70 well known economists and other professionals participated and 42 percent of the writers are not Ethiopians.
Arkebe Oqubay, Special Advisor to the Prime Minister, who is one of the three editors and a writer for the book said at the ceremony held at EEA on Saturday February, 9 that the handbook took about four years to become a reality.
Arkebe, who wrote; ‘Made in Africa: Industrial Policy in Ethiopia’ published in 2015 by Oxford, told Capital the Oxford Economic Handbook is the first for an African country. It came to fruition at the invitation of Oxford University Press because they were impressed by the country’s unique way of economic principles and growth.
It was challenging to develop the book because of struggles with research practices and trends, and lack of accurate or inaccessible data for policy suggestions. There were also several problems including funding shortages. Gender disparities are one of the issues that need to be worked in light of the fact that only 14 female authors were involved in the handbook out of 70 70 participants.
Twelve more volumes selected from the chapters in the handbook will be developed.
“The second edition of this volume is expected to be published in 2025 that should be updated and give an opportunity for authors that did not contribute to the current one,” Arkebe said.
He told Capital that the major focus area was giving pure information and scholarly standards and original content free from bias, while give freedom for scholars so they can reflect on their research freely.
“It has, for instance, criticized the gaps of the government. My chapter has also shown ways that problems can be solved,” he said. “Since the main target of the handbook is showing details of the Ethiopian economy on a knowledge basis and using it as a reference for researchers and government policy it has to be quality.” He added that to keep the originality one chapter was dropped because the subject had been published before.
The PM advisor said that the handbook would have several advantages besides an input for research and scholarship.
“Investors who are looking at possible destinations may consider Ethiopia because this handbook has several inputs for their assessment and it would make it easy to evaluate their options in the country,” he said.
The statement issued during the book launching held at EEA stated that the handbook is expected to serve a wide audience, including researchers, academics, policymakers, and practitioners, and is expected to be a major source for graduate and undergraduate students.
Fantu Cheru, Senior Researcher and Emeritus Professor, African Studies Centre, Leiden University, The Netherlands, and Christopher Cramer, Professor of the Political Economy of Development, SOAS, University of London, UK are the other two editors of the handbook. The two editors also helped write chapters like Arkebe.
Authors like Teferi Abate, Christopher Clapham, Menberetsehai Tadesse, Mekonnen Manyazewal, Admasu Shiferaw, Yohannes Ayalew, Seid Nuru, Assefa Hailemariam, Zinabu Samaro, Ayelech Tiruwha, Edlam Abera, and Carols Lopes were involved in the production of the 50 chapters.
The book allocates four chapters for agriculture and three for the coffee sector which is the leading areas of the 50 chapters. Lack of adequate focus on health and economy and construction sector as a chapter has been criticized as a problem with the first edition of the Ethiopian economic handbook.
The price of the book is USD 135 which is very expensive for Ethiopian audiences.
“It will be a good reference for students in higher education. We are working to get funds from donors to distribute the book at universities in the country for free,” Arkebe told Capital.
The PM’s advisor is in the process of publishing two books: ‘China-Africa and an Economic Transformation’ and ‘How Nation Can Learn’ that will be published by Oxford in the coming April and May respectively. Another book of Arkebe’s, ‘African Economic Development’ published by the same press is expected to be available by February 2020.

Africa Finance Corporation lobbies for Ethiopia for membership

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Africa Finance Corporation (AFC) which was established in 2007 to bridge Africa’s infrastructure investment gap is lobbying Ethiopia for membership.
“Ethiopia is under policy reform to liberalize the economy for privatization,” Sanjeev Gupta Executive Director of AFC told Capital.
The delegation held fruitful talks with Ahmed Shide the Minister of Finance, Sileshi Bekele, Minister of Water Irrigation and Electricity, Yinager Dessie, Governor of the Central Bank and Abebe Abebayehu of the Investment Commission.
According to Gupta, AFC wants to develop the power sector in Ethiopia with a special emphasis on industrial parks and other infrastructure development.
Owned by African governments, African banks, Private equity funds, and Insurance groups, AFC, has operated in twenty nine African countries so far including Egypt, Morocco and Cote d’ivoire in financing power, road and mining projects.
“The Zero membership cost makes AFC unique and encourages countries to join and invest as well,” Gupta said.
Africa Finance Corporation, a multilateral development finance institution, provides various financial services in Africa. It offers project financing services, such as debt, equity, and mezzanine financing; project development and management services; trade and equipment finance services; technical and financial advisory services; early stage risk capital; corporate finance; and debt/equity syndication services, as well as structured products.
“AFC is delighted by the discussion with Ethiopian officials and hopes Ethiopia will join very soon,” Gupta said.

US-Africa trade, investment forum sees opportunity

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The United States Mission to the African Union hosted the US-Africa Trade and Investment Forum on the sidelines of the African Union (AU) Summit in Addis Ababa last week.
The high level event, supported private sector engagement in the African Continental Free Trade Area (AfCFTA) and worked to drive US-Africa trade, investment, and business engagement.
“The long history of trade ties between the United States and Africa pushed the US to further deepen trade with Africa,” Mary Beth Leonard, US Ambassador to the African Union said.
She added that AfCFTA is a real game changer in how international and US business looks in Africa because it has created significant opportunities.
President and CEO of the Corporate Council on Africa, Florizelle Liser described the motivation to foster a better trade relationship with Africa.
“We have a stake in supporting African regional integration, in creating larger markets and businesses, allowing them to take advantage of economies of scale and drawing Africa into regional and global value chains.”
“There are many positive things happening in Ethiopia and the export of products to the US market is an example to what Africa can do and is doing across the continent,” she added.
The AU Trade and Industry Commissioner, Albert Muchanga said work is underway to develop regional value and supply chains and creating a more stable and predictable policy framework to guide business decisions and strategies on investing and trading in Africa.
He pointed out that work is advancing on liberalization of trade in goods and services as well as establishment of a payment and settlement platform that will give operational content to the agreement coming into force.
“Through the African Continental Free Trade Area, we are offering large economies of scale and scope to the private sector,” he said, adding that the content’s trade liberalization and continental integration gives incentives to invest in larger scale endeavors for a longer time.
The Forum – linked to the AU and the broader African continental and global trade agenda – will complement the AU Summit by engaging the private sector – both in Africa and the US– and will fill an important void.
Currently, the AU runs an African Continental Free Trade Business Forum for African companies. Some forty-nine countries have signed the African Continental Free Trade Agreement, and 18 of the 22 needed to bring it into force have already ratified it.