Kwabena Okyere Darko-Mensah, the Member of Parliament for Takoradi has made a case for Ghana to fully practice a mixed economy, arguing that leaving everything to the free market will not serve Ghanaians well at this time.
Commenting on a Statement by the Member of Parliament for Nhyiaso Constituency, Dr. Stephen Amoah on Ghana Must adopt a Mixed Market Economy Policy, Hon. Darko-Mensah said the 1992 Constitution of Ghana is founded on a mixed economy, and even the NPP’s philosophy of “property owning democracy” is based on the same principle.
“If you take the National Health Insurance, the drug list has been based on a virtually fixed price by government trying to balance the cost on the market itself and the cost that the Ghanaian can pay,” he explained.
He cited water tariffs as another example, noting that before utility prices take effect, they go to PURC for moderation “so that it does not fully affect the living standards of our people.”
The Takoradi MP pointed to China as a model, saying: “Even China today calls itself capitalists with Chinese characteristics. They put so much energy in state capitalism even though they’ve also allowed the private sector to grow.”
*Productivity as the missing link*
Hon. Darko-Mensah said one key issue Ghana must focus on in practicing a mixed economy is *productivity*, which he noted has been missing from national conversation for a long time.
He commended Parliament’s Economy Committee for recently looking at “the kind of deliveries we are giving to the ordinary Ghanaians,” instead of relying only on the Public Accounts Committee which comes in “after the effect.”
“That is one area we need to look at if we are to hold public and policy makers accountable for making sure that the mixed economy our constitution opens up for us to practice is practiced,” he said.
*Call for government intervention*
The MP argued that “the free economy for the time being as Ghanaians, we cannot be able to survive it.”
He stressed that government, private sector and individuals must interplay so that prices and living standards can be moderated.
“Where the market fails, the government should always be ready to intervene to make sure the right things are done,” Hon. Darko-Mensah stated.
