FACE THE NATION | Economic Stability : Myth or Reality? | 14th February 2024

[@SatahanRadio]

"His desire to diversify the Toyoda family’s loom-making business coincided with the Japanese government presenting a plan to develop a domestic automotive industry. So in 1933, Kiichiro established an automotive division within Toyoda Automatic Loom Works and recruited a small but passionate team of engineers and industry experts to assist him in this venture." Dhananath Fernando The Japanese government encouraged the expansion of automotive industry through state planning and redirection of national savings. However, in his last comment at today's Face the Nation programme, Dhananath, the CEO of Advocata said the Japanese government discouraged "Mr. Toyoda" from venturing into automotive manufacturing, which is the exact opposite of what the Japanese government did! Why is Advocata Institute willingly misleading the public?

[@dhananathfernando6998]

Thank you for the comment.. Below is the transcript of what I said. “Japan when they grew, they had this powerful ministry called JITI. They were the one who were deciding which industry who should do. Do you believe that same JITI said to Mr.Toyoda that this car industry won’t work. And he took the courage and he built the Toyota on his own. And the rest is history. And that’s why I am saying the best thing the government could do is stay away and allow the people to do their business.” Industrial policy and policy towards industry are two things. If you allow the Gov to decide which business to be done by whom it will be another Online safety bill. I commented on the FB post where this was originally mentioned.

[@amaliweda]

@@dhananathfernando6998 Japan had The Ministry of International Trade and Industry (MITI) which was the supra-institution providing the ideological and pragmatic leadership for the industrial policy in Japan. Japanese industrial policy was a combination of import substitution, protection, selective liberalisation, tax incentives and most necessarily knowledge production (R&D). People didn't just do their business, MITI played a hand holding guiding role. This is what the Japanese history tells us.

[@rizwan1983]

@@dhananathfernando6998 Thank you for your insightful comments. I agree with most of what you say. In particular the comments on inflation by Dr. Howard were ridiculous and should be dismissed properly. In fact, the original definition of the word "inflation", as defined in the olden days Webster's dictionary was "an expansion of the money supply", and as we well know the consequences of that inflation are not only price increases but also artificial lowering of interest rates giving rise to the Business Cycle. It was only in more recent decades that the government has hijacked the definition of the word "inflation" to mean price increases. This is so that they divert that responsibility to private enterprise. Actually I have written a few articles on this topic as well, which were published on Sri Lankan newspapers. I look forward to more of your interviews. You should run for political office! Javier Milei did it. So can you. It may take time to get the people to understand, but Milei successfully got Argentinians to vote for him. So I believe there is hope.

[@ivedamos]

surely Dhananath, fuel prices is not just about motorcycle riders and Benz car drivers - transport costs also affect the price of food and other services

[@KevinAngelo992]

ධනනාත් අද තමයි ආර්ථිකය ඉගෙන ගත්තේ පලමු වාතාවට😂😂😂

[@akilabandara2992]

I believe that u have the biggest problem of understanding English 😂😂

[@duleepalakshman6832]

Great discussion. Very valuable thoughts added by Dr and prof.kanchana.

[@naveenaponso4643]

Is money printing good ?? This dr. is a joker😅

[@masterd9811]

Why Sirasa always has low volume. Plz fix in future videos.

[@kiki6037]

Definitely fiction borrowing borrowing and borrowing nothing else Rob Peter and Pay Paul so where is the progress?

[@lahiruudaw9021]

ධනානත් is *ucked up 😂😂😂 this shows the NPP is the only solution

[@vrherath]

Regarding Danusha Pathiranas' argument that the increase of price (inflation) is a result of increase in prices of commodities like oil in the world market and that the reduction of inflation to current level (single digit) is a natural response to reduction in oil price in the world market. We can compare 2007-9 and 2021-23 to test his hypothesis. From Jan 2007 to June 2008 crude oil price increased by 133%. During the same time Sri Lanka inflation increased from around 10% to 30%. By January 2009 crude oil prices dropped by 70% and inflation reduced to single digits. By comparison from January 2021 to May 2022 crude oil price increased by 111%. During the same time inflation increase from around 5% to 40%. Then by September 2022 crude oil price dropped 28% from the peak whereas inflation rose to 70%. Current stable crude oil price is 32% below the May 2022 peak whereas inflation dropped from 70% to single digits. By comparing the two cases it is evident that reduction of inflation is not merely due to reduction in the commodities prices in the world market. This fact is clearly evident if we compare inflation trajectories of the countries such as Cuba, Pakistan, Ghana, Turkey, and Ethiopia during the same period.

[@ArunLal-q6l]

This Dhananath guy is the only unqualified person here (in regards to Economics). Probably Googled and learned something and spreading misinformation now. These people are doing real damage to this country.

[@devindraweerasooriya7839]

36:15 I could not agree less with this comment. Much what Dhananath said is Dry Economic Fact, Petrol subsidy being a good example. We Sri Lankans have paid a Huge Price for paying little attention to Dry Economics. It seems to be changing at last. Well spoken @Dhananath,

[@naveenaponso4643]

He is the only one who talked about practical facts. We practically experienced those points which Dhananath mentioned specially money printing.

[@vrherath]

If excessive printing money literally does not increase inflation then wouldn't printing more and more money solve our economic problems. US is not a good example in this case because US dollar is the world reserve currency. Therefore countries tend to buy US dollars. What countries are buying Sri Lankan rupee?

[@omarkhadine2847]

Dr. Nicholas, you said and repeated that Ranil Wickremasinghe had burrowed "ten billion" during his Premiership 2025- 2019... What were these "Ten Billion" in ? Cricket balls ? What units ? US $ or SL rupees ? You are a Professor?

[@anjanavenura858]

Its very good that dananath was exposed. He is such a parrot without any knowledge on economics

[@kawdaboy1]

Toyota originally nade weaving machibes

[@au9680]

i thought Dhammila Perera fixed the BOI back in 2008 to give approvals in 1 day 😂😂😂

[@DeVallaR]

Why is the audio mastering so potatoe. Guys boost the mids and kill some of the lows and that god awful humming. WHAT ARE YOU DOING!? LOOKING AT YOU SOUND DEPARTMENT!

[@bimsarabasnayake]

Well said, Dhananath. Your comments are very relevant to SL and practical. Those who know Dr. Howard and Dhanusha (book knowledge), it's not a secret that they are anti-IMF and anti-Ranil. This is not to say they should be pro-those two. The real cause of the problem in Lanka is ignorant and freebies seeking voters vs. opportunistic politicians and spineless state officials and media with self-agendas. Today, we see a new breed of voters or more of haters. They operate on a single target. They operate only by the notion- my enemies enemy is my friend, meaning anyone, even a dog who barked at their hated person, has become their friend. Now, in this kind of politics, we will never ever make it.

[@ArunLal-q6l]

// Those who know Dr. Howard and Dhanusha (book knowledge)// Seriously? Dhananath is the only unqualified person here. No experience, education qualifications or knowledge whatsoever. Like a parrot repeating what he read on the internet without really understanding the concepts and without knowing the history.

[@lahiruudaw9021]

Anti Ranil 😂😂😂Go fluke yourself dananath 😂😂😂

[@jayathuperera7477]

Country's economy went in to abyss, because of pure mismanagement and frauds of politicians with the support of officials and business cronies. What is the plan of these politicians,other than planning for more and more loans ? Any production plans ? Export plans ? Investments in education and health ? IMF won't show the development path to countries and instead it is the responsibility of countries' politicians to provide that guidance which is lacking with our corrupted and ill-sighted rulers

[@techcontent564]

රනිල්ගෙ කුක්ක ධනනාත් ලෙෆ්ට් 😂

[@Randomize151]

WTF is this Advocata fellow saying, no clue how an economy works.

[@balamurukan6224]

Haha ha...everything is nothing but nothing have something

[@amaliweda]

Gender is about men, women and more. Not only about women :)

[@dimitrikaru]

The export of luxury vehicles is honestly a stupid argument.. what would anyone bring down a used luxury vehicle from Sri Lanka when thry can get used luxury vehicles from counties like Japan, UK, Thailand, US for half the proce that its in Sri Lanka.. your vetter off selling it in Sri Lank to the provate consumer that trying to export it.. cos Sri Lankas vehicle market is an abnormal market.. the vehcile i bought for 6.8 million 6 years ago i can today sell for double that after using it for 6 years.. where as in any normal econo.y as soon as you register a vehicle the value falls by 40%

[@sameerauoc]

People who claims there are unemployed poor segment in this country , I would like to invite you to talk to industries how much they struggle to find people to work in their factories .. how much we struggle to find a house maid…we are a the laziest nation in this world … these welfare mindset will never deliver a developped country .

[@Lahiru_Udana]

Your argument holds water only if so called available opportunities pay a liveable wage to the workers. But that is not the reality. For the tea plant workers, employers are actively fighting not to increase their daily wage to 1700 LKR. Do you know the average wage for a school teacher ?. Even the government statistics clearly show that current wage levels are so low for employees to fulfil their basic needs. The statement you have mentioned "laziest nation in this world" is a typical scapegoating mechanism used by corrupt politicians and then their followers blindly believe. People appoint parliamentarians and the xecutive president to act on social matters that are not solvable individually. Most of the developed countries, including US and europian countries solved the economical issues with a great government intervention. They did all the plannings, they carried on all the basic level r&d programs and so on. If someone think social issues can be fixed by individuals that person is utterly misled.