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The Youth Talks: Economic Freedom and Entrepreneurship

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The Youth Talks is an initiative by Rhythm Sah a motivational speaker from Biratnagar and he is also a Glocal Teen Hero Alumni.  The Youth Talk just successfully completed its next episode on the topic – “Economic Freedom and Entrepreneurship.”

The main guest speaker of this session was Mr. Basanta Adhikari. Basanta Adhikari is the Founding Chairperson of Bikalpa-an Alternative; an organization which envisions a Nepal where rule of law is supreme and all citizens can have an equal opportunity to prosper in their own country and enjoy their rights to life, liberty and property. Prior to this, he has worked for “Gari Khana Deu”(Livable Nepal) campaign to promote the fundamental principles of rule of law, right to life and property, and Freedom to Enterprise. He graduated from SungKongHoe University, Seoul, South Korea on Master’s in Inter-Asia NGOs Studies (MAINS).  Mr. Adhikari is alumni of US Department of State International Visitors Leadership Program (IVLP). He is also a fellow for Asia 21 young Leader’s class of 2016.The session was moderated by Rhythm Sah.

Mr. Adhikari was asked about what Economic Freedom meant for a person, a community and a country .He started with the definition of freedom which states- “It’s you getting to exercise your rights without hampering the rights and freedom of others” Freedom comes with limitations and responsibility. He defined economic freedom as the right to work and earn freely without any interference from anyone. It provides people the freedom and environment to produce, consume and develop freely which in return helps the economy.

For the question why economic freedom is important, he had many ideas. He explained that if we look at the developed countries they have ensured economic freedom and if we analyze the poor countries they have not done so. Nepal is in 94th place when talking about economic freedom, which is not good at all. If we talk about business, we stand at 135th position so there are a lot of problems. But economic freedom can help us get better at these sectors. It helps flourish trade and entrepreneurship which in turn helps the economy of the country and helps the people gain economic freedom. He further added that if there is no economic freedom we might lose political freedom and individual freedom in long run. He went in depth on these topics during the whole session.

He also gave some ways to achieve economic freedom. Creating the environment for investment, trade and a structure to support entrepreneurship is very important. Government has to play a vital role in playing that.

Mr. Adhikari defined entrepreneurship as the as the willingness to take risks to start something new and earn profit from it. He added that what starts has a newness to it, it’s different from traditional business. Entrepreneurs are able to analyze the need gap and add value to existing market by bringing new things. Entrepreneurs work to solve problems of others.  Entrepreneurs if get the right environment and opportunities can directly ass to the economy. It is how economic freedom and entrepreneurship is interrelated.

 

Mr.Adhikari introduced to an interesting fact and that was Economic Freedom can prosper and develop the country but Aid Cannot. He said – “ We made our country poor, actually our system made it poor and we are hugely dependent upon aid. We depend on aid for medicines, vaccines and a lot of other stuffs as well. But at the same time in current situation aid has made our life easier. But aid will never make the country prosperous. If aid and help would make a country prosperous than Africa would have been the most developed continent. Aid creates dependency. But trade, entrepreneurship create economic freedom. And slowly helps us to become independent.” He discussed on the Milton Friedman‘s on sources of money for prosperous Nepal.

The youth talks is a platform to discuss topics related to the youth. We promote young professionals on the show but the core value is to discuss the problems of the youth, motivate them and help them in showing the correct path. It’s not just the core value of TYT but of the overall operations we run.