PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
SA CITIZEN
 
Comments: 0
Article views: 3854
 
 
 

Why "White Monopoly Capital" is irrelevant

07 April 2017, 16:42

This idea that white people run the economy, even if it were true, is completely irrelevant, this is why.

In South Africa, the white population makes up around 10% of the entire population in the country, while the black population is around 80% (these figures are rounded).

Even if every white person in this country becomes an entrepreneur and runs a company, either big or small, the black population will only require 20% of their people becoming entrepreneurs in order to eclipse white business ownership. 

The problem is that people say that white people own the economy and that the assets that are currently there should be distributed amongst the black population. This brings in a host of issues.

Firstly, who decides who gets what? With the current state of our government and the high levels of corruption, you know that poor Gogo Thandi, living in her shack in the rural parts of Mpumalanga will not receive a single fraction of these assets.

Secondly, who will manage these assets? Will the government? Well, their track record of managing assets is abysmal…and with the current administration you can be sure the mismanagement will only increase.

Thirdly and most importantly, there isn’t enough to go around. The largest problem with South Africa is that the size of our economy is too small for the size of our population. Currently, the government is borrowing money left right and center in order to foot infrastructure projects, social development projects and other things. Now, even if the corruption levels were reduced to 0, this would remain a problem as every cent borrowed is a cent owed plus interest…and this means that we need serious economic growth in order to pay for this interest. If our economy were large enough, we wouldn’t need to borrow as much and our development projects would continue at a faster pace.

So what does any of this have to do with my statement that white monopoly capital is unimportant? Well, everything…let me explain.

Our country’s largest problem is that our economy is too small. The white population can’t do much about it purely because of our lack of numbers, We cannot fill all the needs of the economy to grow it…the sheer manpower required to effectively grow our economy is only available within the black population.

Yes, there are very successful contributors to the economy within the white, Indian, Asian, Coloured and other minorities within the country, but the problem still remains that it isn’t enough. We need a black economical contribution on a large scale.

So how does fact translate to a future for our nation…well it is simple…on paper at least…we need to encourage on a large scale international and local investment within black entrepreneurship. We also need government will backing this.

The current way our country’s laws are, this type of economic growth system can be easily encouraged with a few steps:

1.     Provide tax incentives for foreign investors who partner with black people.

2.     Provide the same tax incentives to local businesses that partner with black people.

3.     Provide tax incentives for training initiatives within companies who train up black entrepreneurs and staff.

4.     Provide tax incentives for companies that expand their work force.

5.     Provide tax incentives for black startup businesses.

6.     Provide huge tax incentives for companies who manufacture their products and sell them in South Africa.

7.     Provide tax incentives for companies who manufacture products in South Africa and export them, be they local companies or international.

8.     Lower corporate tax so that companies have more money to expand and thus employ more people.

9.     STOP PLAYING IDENTITY POLITICS. INCREASING THE RACIAL DIVIDE ONLY POLARISES THIS COUNTRY AND WILL KEEP DESTROYING IT’S POTENTIAL. We need to work together in order to save this country and help it reach its potential…we are all human beings and fighting over something as silly as race is unproductive.

The goal of these steps are to grow the economy so large that nobody can be excluded or else the economy will fail. This is the radical economic transformation that is required…because if we redistribute what we have, we will all quickly realize how little it really is.

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

Read more from our Users

Submitted by
On Steve Hofmeyr: Violence begets...

hen politicians devise divisive and racially-based policies and public utterances the last thing SA needs is for artists to follow suit; as violence begets violence, racism does the same.  Read more...

0 comments 2391 views
Submitted by
Zahid Jadwat
Load shedding: More than just a L...

Listening to the morning bulletin before breakfast, I wasn't surprised when the reader said that Eskom would be implementing stage two, and consequently stage four, loadshedding the same day. Read more...

0 comments 2966 views
Submitted by
Yazeed Fakier
In response to Melanie Verwoerd: ...

The president's image has come undone, and it appears Melanie Verwoerd has come to accept that, in the greater scheme of things, there is precious little there that leaves much room for optimism. Read more...

0 comments 9967 views
Submitted by
Peter Herring962
One month to go – 'tis the season...

May 8 is around the corner. We will maybe have to brave the cold and wind, the long queues and proverbial security checks before we go into a little cubical to make our much desired crosses. Read more...

0 comments 584 views
Submitted by
Mpumelelo Ncube
The confluence of politics and sp...

The downside of separating religion and politics has been the inability of religion to influence political leadership and policies leading to the moral morass that affects individuals in their public and private spheres.  Read more...

0 comments 274 views
Submitted by
Young people leaving SA: Have you...

Write to us what you think about the president's call for young South Africans to stay in the country and help build a better future. Read more...

0 comments 11777 views
 

services

Press Code We subscribe to the Press Code.

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

Terms and Conditions 24.com Terms and Conditions - Updated April 2012

 
Interactive Advertising Bureau
 
© 2019 24.com. All rights reserved.
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.