Economic recession, the trends, the spiral effects and the practicable solutions

Author Amusa Abdulateef, broke away from the use of economic jargons of the economists, public think tanks and financial analysts to use explicit and unambiguous lucid words to define economic recession through the effects on the manufacturing and service provision for the people, places and institutions. He maintained that the growth and otherwise are primarily self-inflict. The styles and the attitudes to public offices, to him by the revelations of his studies, play determinant role in the building of flagging economic situation. The author employed the use of explicable illustrations and analogies that aptly explain what recession means even to a lay man on the streets not to talk of the students, administrators, people of different professional leanings and socio-economic researchers including the best way to tackle each of the recession-hit nations signs headlong.

Without doubt, recession is a sign of declining economy whose signs are dangerous against the nation and investments if left unchecked. The scourge of the lagging economy affects both the micro and macro economy. Investments liquidated by the insolvency as a result of dwindling sales as the target consumers are poorer than before in the wake of spiral inflation.

In view of the negative traits, vices and corruption become the order of the day. Advisors opinions are different especially when the forex earning from exports dropped. Some are of the view that the government should sell assets or borrow to fund projects especially deficit social infrastructures. Others held the belief that a government whose debts have outgrown the revenue should look inward instead of borrowing. Some are of the position of borrowing only to sustain projects that would sustain themselves and payback the loans. The professional associations are not left out proffering solutions to the economic downturn. Agricultural-based practitioners held the mindset that massive investment in agriculture sector would save the nation from recession. The built sector claimed the same. The financial sector sees itself as the solution to eliminate the scourge of recession. All these views, author Amusa abdulateef critically analysed in the book.

In order to throw in confusion, the independent economic analysts and those of the think tanks working outside the corridors of power become more vocal in the print and electronic media to throw the government out of balance with their strange economic policies. By this, they are glad rubbishing the national intelligence economic team (NEIC) inputs to make success of their policies. The former may be doing so by dancing to the tunes of the opposition party to destabilize the government or to attract undue attention from the government in order to join in the benefiting of the paraphernalia of offices.

As the situations get worsen and the trial and error of policies, a nationalist who is a socio-economic researcher and economic think tank who have done the researches to unearth the practicable solutions should come up with the solutions before the ship is sink permanently. And this is the position of the contents in this research-based book.

In the book, the causes and the trending of the economic downturn were critically looked into; there were propounded THIRTEEN laws for the recession to become a thing of the past; the book treated the frequently questions and answers in the 'experts and think tank' session; there are relationship between recession and issues like single treasury account, economic policies, business environment among others; author Amusa Abdulateef also shared the solutions from different point of views of professionals from different professional leanings before the critically analysed solutions to solve the problems of the economic scourge. The solutions of the dreadful recession could be a thing of the past within a few months. The readers and other us

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