Prof. Uyangoda says it’s a myth that local private sector can create lots of jobs

By Rathindra Kuruwita

Sri Lanka’s private sector does not have the ability to generate large amounts of jobs, despite the assurances given by those who insist that the government must not be involved in economic management, Professor Jayadeva Uyangoda, a political scientist, said.

“The market does not have the ability to create jobs. The state won’t also create jobs,” he said.

Those who support Wickremesinghe’s neoliberal policies insist that there will be an economic revival once the state stops intervening in the economy.

“This is a myth. It’s silly to assume that the Sri Lankan private sector has the ability to generate a lot of jobs. This is the nature of our private sector. They are not in sectors that generate a lot of jobs. This is obvious,” he said.

The only thing that is certain is that these economic policies will lead to a serious political crisis, Uyangoda said.

“People will come to the streets. This is why the President ushers in many illiberal acts. In 1982, JR held a referendum and avoided elections. Wickremesinghe also knows this. He is worried about anti-government protests,” he said, adding that many countries that implemented IMF recommendations saw massive riots.

“They are called IMF riots, the results of IMF policies. Wickremesinghe knows this. He knows massive riots are on the cards. This is why he is rushing in many Draconian laws,” he said.

If elections are held this year or the next, the top traditional political parties will suffer severe setbacks, and those in power understand that, Professor Uyangoda said.This will allow new political parties to breakthrough into positions of power, he said.

“If you look at President Wickremesinghe’s speeches, it’s obvious that he clearly understands that the grip the traditional parties had on the voter has loosened”.President Wickremesinghe understands the crisis of the establishment and is trying to preserve the status quo by not holding elections, Uyangoda said.

“This is a destructive tendency. Why do we hold elections? We are trying to gauge public opinion. If new political forces are in a position to break into positions of power, elections allow them to do so in a non-violent way”.

People are not tired of politics, but they are extremely critical of the politicians, according to Professor Uyangoda.

“In 1977, President J.R. Jayawardena opened up the economy. But restricted democratic political processes. What is happening now? President Wickremesinghe is ushering in the final stage of neoliberal economics. The economy will change dramatically,” he said.

“These reforms, however, will lead to serious political strife and public anger”.