What is the government's dilemma in the economy?

Following its failure in the local elections, the government has begun to announce that it will place more importance on the economy. However, due to its ideological perspective on production–ownership–distribution relations and its economic policy preferences, there is not much it can do. This is because its outlook on liberal choices, private property, and the free market is clear. Let us elaborate on the subject further...

As is well known, the common problem of developing countries, alongside the insufficiency of capital and technology, is that human labor is not as educated or qualified as it is abundant. In other words, it is the shortage of qualified labor and skilled intermediate personnel. For this reason, it is not easy to achieve both high growth and stable growth, to succeed in sustainable development, and to achieve a fairer distribution. Compromising on any of these further strains these countries, which already have severe structural problems. This increases unrest and instability.

Trying to achieve high growth rates with scarce resources shakes both the already distorted distribution balance and social justice, which is not fair to begin with. Obtaining resources from abroad reinforces external dependency. It increases debt and the current account deficit. This leads to a foreign currency bottleneck. All of this fuels inflation. It multiplies unemployment. It slows down growth. In short, a political, economic, and social crisis becomes inevitable.

Another significant problem for developing countries is the society's impatience regarding enrichment. Governments adopting low growth rates does not satisfy the public. The people are impatient for rapid growth. They are in favor of rapidly closing the gap with Western, developed, industrialized, advanced, and central capitalist countries.

Another problem is that slow growth further escalates unemployment in such countries with rapidly increasing populations. This situation inevitably triggers poverty. This makes reaching the level of developed countries even more difficult.

In developing countries, the unregulated, rapid growth process achieved by leaning on foreign capital and largely ignoring social justice, while the economic, political, and social structure is not suitable, is not permanent, healthy, balanced, or sustainable. It is unstable, fragile, and prone to crises.

Against rapid and unhealthy growth, it is necessary to advocate for balanced, planned, stable, and sustainable development. Planned and balanced development, which places more weight on domestic resources, is also necessary for healthy and fair distribution. Preparing the political, social, economic, and legal infrastructure in a way that is suitable for this process, and developing the country with slower but more balanced policies, is more positive.

Thus, a stable, crisis-free, more egalitarian, fairer, and healthier order is established. The frequent and deep crises experienced during periods of rapid growth do not occur. For this reason, for example, rather than being a country that grows by 10 percent for 5 consecutive years on average and then sees its growth rate fall to 2 or 3 percent due to the crises it experiences, it is more correct to grow by 6 or 7 percent at a stable pace without experiencing a crisis.

In short, as long as the ideological perspective on the economy does not change, it is difficult to solve the problems.