Dr. Salam Jabbar – Economic Expert
The public often holds almost firmly entrenched perceptions when businessmen assume power in their countries, and these perceptions may reach the point of conviction that power will be harnessed for the businessman’s own benefit. However, some fail to realize that there are legal, legislative, ethical, and even practical constraints on businessmen’s exercise of power, which fall under the principle of what is known as Conflict of Interest. This issue represents one of the cases that demand attention and focus, especially since today in Iraq we are facing a new situation in the exercise of power in the country; namely, that a businessman is assuming the management of economic, political, and social affairs, and sovereignty in general, in his capacity as a symbol of the Iraqi state.
Businessmen in Power: In reality, the phenomenon of businessmen assuming power represents one of the prominent situations that has begun to spread significantly in the world today. There is a global wave characterized by businessmen taking power and becoming politicians. It is noted that, in most cases, when businessmen assume power, there are indicators proving an improvement in public service in the countries they manage. This results from an advantage businessmen possess, which is that they measure their decisions according to feasibility, and they often subject the decisions they make to in-depth economic calculations and logical analyses. Consequently, any decision made is the result of quantitative data, rather than being based on a descriptive approach to decisions; meaning that they subject their decisions to measurable outcomes, as the businessman understands decision-making as a matter of life or death.
Furthermore, their decisions often do not reflect the perspective of a political party or the demagogic manipulation of the masses’ emotions in a manner that guarantees cheers of support or secures the highest number of voters. One can observe prominent global cases where businessmen have managed countries, states, or municipalities. Examples include New York State in the United States of America, which was managed for decades by businessmen and is considered the most attractive to capital as well as a global financial hub; the same applies to Shanghai in China and Johannesburg, and is also evident in the case of President Trump, South Korean President Lee Myung-bak, and a number of presidents in Africa, including the nation of South Africa, which has become a major developmental focal point in the south of the continent.
Higher Capacity to Effect Change: A businessman’s decision-making calculations are based on profit and loss and on a longer-term time horizon, as they often differ from the environments in which politicians operate. Politicians believe in weaving rhetorical speeches and creating a linguistic narrative that captures the public’s attention; however, the environment in which businessmen operate is typically one of risk. This means that their economic decisions bear either profit or loss, which requires them to be diligent and armed with a high degree of knowledge, understanding, and analysis before making any decision. This carries over to their role when they become leaders; meaning they must be fully cognizant of the decisions they make, and they often calculate their decisions over a long-term time horizon, akin to the projects they deal with. Thus, their calculations are deeper than those of individuals with political backgrounds, who mostly seek immediate gains without scrutinizing profit and loss calculations over the foreseeable horizon.
