|Written by Sophan Seng
|Tuesday, 14 October 2008
I am also uneasy [re: Letters October 9] with the very explicit words of Kith Meng in an interview “From ATMs to fried chicken” (October 6). But I understand [interviewer] Roger Mitton’s intention to maintain the original version articulated by Kith Meng.
In his speech, Kith Meng is understandable as a very aggressive capitalist. With his businesses ranging from financial marketing to KFC, Kith Meng might not forget the theory of economic efficiency that “it cannot make someone better off without making someone else worse off”.
The questions which need to be answered by tycoons like Kith Meng are: Do they continue their extreme business monopoly? How much do they care about social externalities, including social inequity? How much of their business is used to alleviate poverty through social entrepreneurship schemes? Do they prefer property rights, regulations, fair bidding or do they prefer the current ongoing lack of good governance in order to boost their profit?
I am also at unease with very derogatory and explicit words of Kith Meng in an interview “From ATMs to fried chicken” (PPP, Oct. 06, 2008). But I understand Roger Mitton’s intention to maintaining original version articulated by Kith Meng.
In his speech, Kith Meng is understandable as a very aggressive capitalist. He elaborated many aspects instrumental to those who wish to succeed business. Ranging his business from financial marketing to food shop of KFC, Kith Meng might not forget the theory of economic efficiency saying that “it cannot make someone better off without making someone else worse off”. His incremental profit with businesses expanding feasibly narrowed inequity or continue benefiting at the expense of Cambodian poor.
Cambodia’s current economics is experiencing equilibrium inefficiency. There is no balance of supplying (producer) and demanding (purchaser). According to AFP, 35 percent of 14 millions of Cambodian people are living on less than 50 cent US a day. Cambodian officers and teachers are living on their government wage of about 40US per month. This is not included 83 percent Cambodian farmers, the major social stratum of Cambodia are living on daily subsistence life. The power of purchasing is vulnerably incompetent.