Although the war is over, without political stability and good governance Sri Lankan economy is unlikely to settle to a sustained growth trajectory. Without economic growth and inclusive development the phoenix of war may come to life again.
“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back… soon or late, it is ideas, not vested interests, which are dangerous for good or evil.”
John Maynard Keynes
This often quoted Keynes’ insight is a constant reminder to us on the power of economists’ ideology in the modern production system. The impact of this ideology, more than anything else, is well manifested in the current economic and environmental crisis.
Ethnic tension is a dormant spark that awaits fuelling in multi-ethnic societies. It is all too well known how ethnic conflicts, once ignited, engulf and destroy peaceful lives, scar ethnic relationships over many generations and become hard to contain without mammoth efforts.