Home / Columnists/ Will we learn from Brexit?

Will we learn from Brexit?


Comments / {{hitsCtrl.values.hits}} Views / Monday, 27 June 2016 00:00


Untitled-361Consequent to Brexit, $ 2 trillion was wiped off stock markets. Where did it ‘evaporate’ to? Did this money ever exist in the first place?  Human greed to make quick big money (with a simple click transaction) has driven us to place insane valuations of capital markets.

Emerging markets trying to blindly ape the so-called developed capital markets should take a lesson. Ultimately, the only way humans can add value to each other (remember Adam Smith) is by producing and consuming goods and services of value to each other.

This is a rude awakening to emerging markets to focus on basic human needs, SMEs and grassroots job creation and not be overly seduced by capital markets!


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation


Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc


The bald truth about fake news, etc.

Friday, 21 September 2018

In its most innocent forms, we may all enjoy a bit of ‘fake news’ and go to bed with a lighter heart and clean conscience. A meme on Facebook urging social media consumers to caution – “You can’t believe everything you read on the internet


Withholding Taxes – What, why, when?

Thursday, 20 September 2018

The tax regime in Sri Lanka historically imposes WHT on both domestic as well as cross border payments. WHT on domestic payments eases revenue collection (e.g.: PAYE) while WHT on cross border payments are adopted by most countries to ensure that the


Columnists More