Opening Speech | Murtaza Jafferjee : Why Are We Doing This? | Day 1

Day 1 Ignite Growth Conference 2025
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[@charithgunawardena2567]

I hope Murtaza refines his future presentations to meaningfully address issues that genuinely improve the well-being of people and the environment. His talk contains several omissions and contradictions that must first be addressed to gain traction beyond the corporate echo chamber. While he acknowledges the role of government in the market economy he envisions, he continues to promote the trickle-down economic model-a model that has failed to reduce inequality or prevent economic destruction, even in the USA and Europe. He correctly identifies market failures but seems to believe that those who manipulate the system for personal gain are best positioned to improve societal and environmental well-being. He notes that most wealthy individuals are reluctant to pay taxes but paradoxically assumes they are motivated to enhance public welfare. He emphasizes productivity gains but ignores the necessity of paying workers a living wage. A business that fails to provide fair wages to all its employees is not a viable enterprise-it is an exploitative one. Murtaza also asserts that Sri Lanka, as an island nation, must prioritize trade over industrialization. However, he does not address how the country should mitigate the risks posed by an unjust global economic order and financial system that favor wealthy nations and economic elites. He overlooks critical issues such as the weaponization of the U.S. dollar (as the global reserve currency), offshore tax havens, secretive banking systems (e.g., Swiss banks), and the state subsidies and protectionism entrenched in the Global North. He claims to advocate for equal opportunity rather than equal outcomes but does not examine the disparities in starting points. Does he argue that a poor plantation worker’s child should have the same opportunities as a wealthy heir? Does he support dismantling ‘old boys’ networks that provide exclusive internships and career pathways? What about those in rural areas who lack basic infrastructure and public services? The notion of equal opportunity is meaningless without addressing these fundamental inequalities. His approach places the consumer at the center of economic policy while neglecting the worker. He fails to distinguish between essential goods and services necessary for a basic standard of living and luxury consumption (e.g., fast fashion, single-use plastics, SUVs, private jets, and yachts). The private sector prioritizes profit and is often uninterested in serving the poorest segments of society due to inadequate financial returns. Furthermore, his perspective ignores the reality that Earth’s resources are finite. If global consumption levels were to match those of the USA, we would need six planets to sustain eight billion people. Blindly promoting consumption without considering sustainability is irresponsible. Finally, he seldom addresses the need to reward labor over capital-a fundamental issue in ensuring economic justice and social stability.

[@yasithwalpola2180]

Well said Mr Murtaza, advocata is doing something that give us return in 15 years, lets educate the younger one as elders dont want to listen.

[@dperera6747]

well said Murtaza.... you dont mince your words..... i was pleasently surpriced of some of the facts you presented ....

[@bimsarabasnayake]

There's nothing to ignore in your speech as always. But there's onething that got to be factored is unethical behaviour of our market place. It can turn upside down of all the good lines, bars, and fans in the charts.

[@WasanthaKarunanayake-k9g]

Spot on Dear Mr. Jafferjee

[@lekaherath9774]

Thanks for the video clip

[@veronikastrickler3924]

This is great! We need economic education in schools! Otherwise people purely vote on emotions and we need to change this!

[@SteevFernando-ok4dm]

I wish if i could attend to the whole programme.

[@rifkhanibrahim4441]

use full speech tx Mr. murtaza

[@HussainFahmy]

*_Plunder and blunder are elected by choice phenomena._*