The way to Economic Growth

By Michael Njoroge

Our conventional approach to development has been barricaded by our defensive approach to development. Reality has been elusive to us in our defensive use of trickle down and bottom up approach to economic growth and development. Although the two methods are considered to work in the long term, it is worth while to note that the way to development is through a strong and stable middle class. Why is this? The simple reason is because pulling the wealthy class down and pushing the poor up the ladder is not a saucer pan business.

The reason is that the rich are up the pyramid saving and continuously protecting their wealth. They command instruments of power and influence such that they are hardly affected by poor governance structure or the economic strains, they are poor spenders and if they do; they invest in high end products. On the other hand the impoverished are at the very bottom of the pyramid eking for a living. They barely have a command on the happenings in their environment as putting food on the table is their life’s business. Trying to pull these societies together is like trying to mix water and tar.

The way forward to fast tracking economic development is by creating a strong middle class society. This society forms the demand and supply economy. They are enthusiastic to earn and spend at ease, their desire for growth means that they greatly will contribute in matters of governance; economy and development as they are neither too much attached to the comfort zone of the affluent nor tied up with the daily hustles of the impoverished.

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