I welcome the progressive decision by Minister Malusi Gigaba to appoint Professor Christopher Malikane as his economic advisor.
The decision shows that the ANC government is serious about transforming this economy. To us, who argue that the nature of the economic trajectory is nothing but a time bomb waiting o explode, this decision is a welcome relief.
To us who know that, with its Apartheid and colonial footprints, the economy shall not ensure that wealth is shared by all, we are sheerly grateful. Malikane, who holds, amongst others, an Honours and Masters in Economics, Masters of Arts, PhD, is a seasoned researcher, scholar and commentator in politics, economy and social sciences.
In 2011, when he was a senior Cosatu economist, Malikane said; "If business needs certainty on this issue, it should be certain that the ANC is not researching the feasibility of nationalization, it is researching models of implementation".
In 2015, Malikane published a paper titled Capital in the 21st Century: A Review, where he found, amongst others, that capitalism automatically generates inequality and wealth concentration since the rate of return on capital always exceeds the growth rate of income. In this paper, ,Malikane proposes a progressive tax on wealth and income.
An Associate Professor of Economics at Wits, Prof Malikane has already tabled proposals towards radical economic transformation, which include increasing government’s support of local industrialization efforts, the use of State Owned Entities (SOE) to drive youth employment and the creation of state institutions such as a state bank, pharmaceutical company and construction company.
In proposing professional public servant, the ANC had the likes of Malikane in mind. The times of public servants who are passive, always in meetings, and without any contribution towards the National Democratic Revolution are over. Welcome Prof Chris...