Since the end of the Second World War, the world has been split basically between two blocks – the capitalist and the communist. As the communist system crumbled down in the early nineties, a new economic concept has emerged – time economy but unfortunately it has also the characteristic of dividing the world between the fast and the slow. This greatest power of imbalances today still remains the disparity between the rich and the poor. That unequal distribution of power is affecting the whole world mainly the underdeveloped nations but fortunately with the spread of new technologies, and the rapid creation of wealth, this imbalance is hoped to phase out provided the right decision is taken by a time-conscious and courageous government.

Mauritius is on the doorstep of a crucial general election, in view of the countless gigantic challenges facing us now. If the incoming government overlooks the importance of time economy, our very survival will be at stake. To be fast or slow is not simply a matter of appreciation. Whole economies are either slow or fast. In fast economy, advance technologies speed up productions. Their pace is determined by th spreed of transactions, the time needed to take decisions, the speed with which new ideas are created, the rapidity with which data, information and knowledge pulse through the economic system. Fast economies, generate wealth and power much faster than slow ones. In face of these deadly imperatives, Mauritius needs strong and able leadership capable of assuming responsibilities instead of nursing the electorates with farfetched promises.

The July 3rd general election is probably as important as the election for independence in 1967, in terms of economic issues and challenges. All our economic pillars are under severe threats of intense worldwide cut-throat competition. In order to face this alarming situation, the newly elected government should be capable of instilling renewed faith and confidence in the people and most particularly in the business communities. The incoming Prime Minister should be somebody of proven track-record, determined and dedicated to his work and his country. His lifestyle should as well be exemplary to his fellow countrymen and especially to the young generation.

If we choose a government which is an adept of time wasting and prefers to sit idle under huge accumulation of important dossiers, then time economy is an illusion. The survival of Mauritius lies in instant constructive decisions. The new system for making wealth consists of an expanding global network of markets, banks, production centers and sets up instant communication with one another, regularly exchanging data, information and knowledge. This is the fast economy of tomorrow. It is accelerative, dynamic but pitiless for lazy government. This new wealth machine is, however, a source of multiple advantages, as well as an instrument of great power for those who can benefit from it.

The increasing cost of unreliability, inadequate tracking and monitoring and late responses to demands were the main features of the late Labour government. These factors drastically reduce the competitive edge of the slow moving economy. So do expenses arising from delays, lags, irregularities, bureacratic stalling and above all slow decision-making ; not to mention a practice common in the underdeveloped countries – the corrupt payments often required to speed things up. The increased precision of timing required by systems like just in time delivery means that seller must meet far more rigid and restrictive schedule requirements than before.

It is known that many deals collapse because of unnecessary endless negotiations. Demands for speed are often looked upon as unreasonable by slow moving countries. Yet for the fast partner, delivery delayed is almost as bad as delivery denied. In face of these challenges, the voters must elect a close-knitted government with set-up objectives and a clear vision of the future, in contrast to a group of disarrayed individuals animated simply by racial undertones. Let’s hope that the 4th of July be a day of renewed hope and national rejoicing instead of a big deception.

<B>Harish HUNGSRAZ</B>