Friday, June 05, 2015

Meet Burma--the economy of Heroin/Opium

Quote of the day--Dr. Findlay was my MA supervisor in Rangoon--He suggested the topic of price of capital (interest rates) in Poland and Burma (during the socialist period) when capital was allocated from the center and was supposedly free.

Quote from NYTS article by Thomas Fuller, see links below--June 5, 2015

Begin quote--
“The seed capital of the Burmese economy is heroin,” said Ronald Findlay, an economist at Columbia University who was born in colonial Burma, which the military government renamed Myanmar in 1989. “If that’s an exaggeration, it’s not a huge one.”

end quote

I have heard it even fuels art prices, and I first heard this in 2006 when an art gallery owner/curator explained it to me.

By now it is enmeshed in the system.

In 2001, an at the time new arrival from Burma said in her presentation at the Burmese Democratic Govt in Exile meeting at the Bowen Building in Washington, DC (The Burma Fund) that prices fluctuate with the opium harvest, not the rice harvest as previously.

I do not know what to say.

The newest rumor is that the economic adviser was given 10 acres of land to keep his mouth shut.

Whose land?  The farmers' land.

I personally prefer not to be a part of it.

I instinctively distrust all booms.

KMKaung (Ph.D.)

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