The Biggest Existing Problem of Bangladesh: Economic Problem & Solution under Psychological Analysis

1 Introduction

Bangladesh, the country got independence from the former West Pakistan in 16^th December, 1971 A.D. and is now labeled as developing one. We, the people of Bangladesh are usually facing a lot of problems generation by generation from that time. And by the flow of time we have found out some bigger and to some extents the biggest problem of Bangladesh (i.e., over population, unemployment, price hike at sudden, lack of natural resources comparing to population growth, lack of export- oriented industries, low saving rate of people). But these all are more or less materialistic problems, which actually happens for another hidden cause.
Let us have a look at followings,

       I.            Ibn Battuta, the famous traveler marked Bangladesh as ‘Dojokh- E- Pur Niyamat’, after visiting Bangladesh during 1346 A.D., which is meant to be ‘The hell full of richness”. He expressed his feelings after experiencing the lowest cost of buying anything ever he spent before in anywhere else. If we see at that time we get to this point, at that time because of the blessings of nature, production cost of any good was lower and thus the market value was the lowest in the world then, however the people of Bangladesh were poor at high rate then like today. A common question arises in mind, ‘Why the people were poor then where there was richness in country?’

    II.            Further, Ludovico de Varthema the Portuguese traveler during 1502 A.D. visited Bangladesh. He commented about Bangladesh after viewing its agricultural & industrial production, “The best place in the world to live in”. At that time, businessman from different countries used to come here but they were not intended at all to go back to their respective countries again. The question arises now, ‘How have Bangladesh become one of the most poor country of the world and why at this new age foreign investors do not want to invest here whether they invested here before hugely & lived here generation after generation?’

2 Description

The possible & expectable answer of these questions can be answered with the explanation of ‘Economic Change’. But, actually the main problem inherits anywhere else. And this is nothing but being satisfied always with what they had then. For this, they were not interested to invent technologies & put more efforts to produce more efficiently. As they were uninterested about socio- economic life, they did not see it important doing trades with other countries which behavior forced Bangladesh to be a country of more import comparing with export year after year. Their irrational behavior which can be shown by ‘Alias Paradox’ had eventually forced Bangladesh to be the ‘Poverty Addicted & Affected Country’ of today. So, the main problem is not much materialistic but it is much more psychological which will be easy to understand via following figures (i.e., Figure 1 & Figure 2),

From the Figure 1, we can see that ‘Lack’ of various kind related to psychological matters of the people of then led us to be a country of losing its revealed comparative advantage. And the process was accelerated via depending on nature more being biased by ‘Over Psychological Satisfaction.

From the Figure 2 above, we can see easily that how some ‘Lack’s related to psychology of Bangladeshi people is fetching the overall Economy into ‘Threat’.

So, the solution should come from the psychological side regarding all economic activities of people of Bangladesh.

3 Solution

Now at present firstly mass people psychology should be changed for must. If mass people can gain competitive mind then, revealed comparative advantages will sustain automatically in case of International Trade. This means, our country after a level will start earning much more foreign currencies which will be beyond of our today’s imagination. Thus, every kind of raw materials, additional needed amount of various fuels & capital goods can be easily imported without leaving & destructing the economy towards debt related fatal problems. After all, that state means nothing but a continuously highly growing prosperous economy, thus the Developed Bangladesh.

 © Enamul Hafiz Latifee
enamul.hafiz.sust@gmail.com