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Expert economic opinions should be reserved to experts-Insists Habazoka

Economist Lubinda Habazoka has stuck to his guns that expert economic analysis must be left to qualified personnel instead of every Jim and jack having a go.

Habazoka who has come underfire for his hard-line stance on having anyone comment on economic matters insists that other fields have an exclusive monopoly of commentary on their field of expertise like lawyers.

Below is his full write UP

I intended to take a break from my page but I hear as usual there is a campaign to misinterpret my statement on Expert economic opinions.

Here are the lies flowing on social media:

– I want to restrict freedom of speech,

– I want people to stop discussing the economy,

– I am targeting certain people,

– Etc

All the above are lies!!! Talk however you want to talk. Because of freedom of speech, I am not in jail today!!! Because of freedom of speech, I am writing this piece today!!! Do not be misled by people who want to tarnish my image just because on certain occasions mine and their opinions have been different!

The following are my submissions:

– Expert economic opinions should be reserved to experts I.et people that have studied economics and other related fields like development studies, banking and finance, business administration, accountants, MBA Graduates, Purchasing and supply, marketing among others!!!!!

– For a long time now, the economics profession in the country has been taken for a joke. We have observed for a long time the media calling other people Economic Gurus. People that he never done economics or any other related subjects.

– My opinion is that just like LAZ, ZICA, Human Resource, Purchasing and supply have preserved their trade to only experts, economists should also do that. And I mean when it comes to PRACTICE.

– The country is getting a raw deal because it is being guided by people that have little or no understanding of economics. A well trained economist knows their boundaries in terms of what they can say. For example, careless talk can lead to a bank run causing a bank crisis in the country. People that are not trained if given a platform to give an expert opinion will lead you into a deep crisis that you will never recover from. Coming out of such crisis would take decades. That is why people at the Bank of Zambia and ministry of finance (because they are trained) are not allowed to talk anyhow. The idea here is that when you give a platform to a non-economist, with time they gain credibility because they become household names. In the process, they might do things whose implications they might not know. I don’t want to give examples because I don’t want to open another argument.

– Majority of economists and related fields support such a move. Accountants should always get accountant jobs, lawyers be lawyers etc. In my practice, I have had to engage banks to employ my Banking and Finance students. Banks in the past employed anyhow. Now these employed people would block banking and finance students from getting their rightful jobs. The consequences were that as a client, you got a raw deal because information asymmetry was created. Bank workers were unable to explain to you certain things not because they wanted to cheat you, but they didn’t understand the consequences of not providing you full information. In the process, you went to court to protest against adjusted lending rates, increased loan tenures etc.

– Do not confuse my stance with politics. It has nothing to do with what you think about the economy.

– I SUPPORT people discussing anywhere about the economy but not from an expert point. If a citizen with no appropriate education appears on TV to discuss the economy, let them go there as concerned citizens, publicists, etc but not as economist! The field of economics is deeper than most people think.

Thank you colleagues. Do not be misled. We only have one country to save!!!!

18 Comments

  1. Wisdom

    Yes. Just like Medicine, Law, Engineering and other specialist fields, anyone is free to talk when drinking chibuku but not when there is need to offer expert opinion it should be by those trained in the field.
    Can you imagine a police officer carrying teargas canister starts telling you the best method to diagnose cancer.

  2. Eng Otto

    Engineering must be left to trained engineers. Not wabukafye lelo @am an engineer, am a mechanics. I agree with you, at an expart point of view only trained personnel must advice

  3. menomeno

    Even useless talks should be left to experts? Foolish

  4. Kamata

    @menomeno do you see sense in this article? Cause I see sense, if you don’t, then you just want to oppose anyhow. Imagine a bricklayer telling a lawyer how to solve a court case!!

  5. Mr Peace

    Dr Lubenham Habazoka,u really deserve to be president of the EAZ.When ever you tok,i stop what ever I am doing to learn 1 or 2 things.

  6. Marker

    It’s true,even me with the little knowledge I have about economics whenever one say something I always go to the text book of economics so that I learn more other than opposing or supporting blindly.

  7. Roddz

    Very true (90%)êwell written .

  8. Hanizyy

    Please tell those who are working in along filled instead to work where the are qualified as teachers, lawyers doctors & etc brave habazoka

  9. TOP G

    Was just reading through…

  10. Razor

    But some experts are also useless.

  11. Fidelis Katongo

    Doctor Haabazoka is absolutely right.

  12. amos

    I agree with you sir. other fields have restricted their recruitment to only professionals who are fully paid members. But for us I see banks recruiting any person as long as he/she has a diploma in any field. we see a qualified teacher who is unemployed finding a job in the bank at the expense of a qualified banker. unfortunately a banker can’t find a job as a teacher. I think EAZ should seriously consider this point mr. habazoka has brought out.

  13. Voice of the land

    Very good article

  14. Wongani

    Self taught zambian economicist are many and economic association zambia president is right that comments shuld come frm pipo who hav done commercials courses lik he has put it. Zambia 2 develop it is we the pipo 2 grow our economic and destroy it and a change of thinkin wil help us.

  15. RIFF RAFF & CHARLATANS GRIME TV

    Comment……..still loading….

  16. Nkomo

    In China not in Zambia

  17. Frank Bwalya

    Job seeker..

  18. Corruption now will be worse

    There is a saying in Economics that no two economists agree as to the best solution of an economic problem! What does that mean Mr Habazoka?

Comments are closed.