ANCYL dismisses nationalisation book

2011-02-04 17:31
Johannesburg - The Free Market Foundation's critique of nationalisation of mines in a new book is grounded in "misinformation", the ANC Youth League claimed on Friday.

"To parade their political bankruptcy and intellectual laziness some members of the right wing group try to revise a tired argument that the Freedom Charter does not call for nationalisation of mines," spokesperson Floyd Shivambu said in a statement.

He claimed those debating nationalisation for the foundation hadn't read the ANCYL's document on the subject.

It "clarifies in great detail some of the concerns they raise in their booklet".

The league had dedicated "adequate time" to whether the Freedom Charter indeed called for the nationalisation on the mines, Shivambu said.

"The ANCYL is not against further contributions and robust discussions on the nationalisation of mines, we actually encourage it."

The league has spearheaded the push for nationalisation of the mines in the ANC, and garnered a small victory at the party's national general council last year, when it was agreed that the state's possible involvement in key economic sectors would be probed.

Business Day on Friday reported that nationalising the mines would do black South Africans more harm than good - according to the Free Market Foundation booklet.

Economist Vivian Atud, who penned a chapter of the booklet, was quoted saying: "Even though many more blacks may wish to be involved in mining, nationalisation would be the wrong route to take.

"Given that ownership by the state is not the same as ownership by citizens of the state, nationalisation of the mines would actually mean a reduction in black ownership."

Foundation director Temba Nolutshungu told Business Day the book imparted knowledge to those who cared about the consequences of nationalisation, but were not armed to argue against it.

Read more on:    ancyl
NEXT ON NEWS24X

SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
30 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
SPONSORED CONTENT
The best-kept secrets of electric cars

The secret day-to-day benefits of driving an electric car.

/News
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Horoscopes
Aquarius
Aquarius

There is a tendency towards setting your expectations too high which will result in disappointment. Try not to let your thoughts...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.