When the future betrays, the gains of its past!

2015-12-03 08:00

 “The arrow of time obscures memory of both past and future circumstance with innumerable fallacies, the least trivial of which is perception.” ? Ashim Shanker, Only the Deplorable

Giving the EFF's leader trip to the UK any more attention is as much a betrayal to the future as his populist sentiments about Nelson Mandela are eroding the gains of our past. Fear of white people and hate for the rich are not the conundrum that needs solving in South Africa today. The real issue at play is, "How are we going to create opportunities for wealth transfer, as a result of building a balanced economic society where the needs of the public are well managed? "

Economic management by Government has become a critical key in driving the economy forward. A sad thought when considering that we are no longer debating economic ideas in the country as opposed to the Politics of entitlement. In summary, we are more preoccupied in South Africa, about how we are wronged and as such are entitled to a recompense than we are about finding alternative future for the country, where we are all gainers. We have trivialised our responsibilities to the future we deserve, by making our past a timeless point of debate.

I am also not oblivious to the challenges faced by black South Africans like me, from the pressures of poverty, unemployment and inequality. I know first hand how challenging as a black man, it is to turn the disadvantages of my upbringing into pillars of success. Thus where I can sympathise and empathise with the vast majority of the population who are disadvantaged, I also know fighting elitism is a weaker battle in grand scheme of things. Affirming a people and inspiring them to drive their own development with Government support into the next five decades is the broader war to be won.

Keynesian Countercyclical Fiscal Policies

 The biggest lesson learned from the Economic meltdown of 2009, was from how governments of the world ramped expenditure in their economies to stimulate growth. This was consistent with Keynesian economics, where Keynes argued that governments should solve problems in the short run rather than wait for market forces to fix things over the long run, because, as he wrote, “In the long run, we are all dead.”

Keynes advocated so-called countercyclical fiscal policies that act against the direction of the business cycle. For example, Keynesian economists would advocate deficit spending on labour-intensive infrastructure projects to stimulate employment and stabilise wages during economic downturns. They would raise taxes to cool the economy and prevent inflation when there is abundant demand-side growth. Monetary policy could also be used to stimulate the economy—for example, by reducing interest rates to encourage investment.

Government as a Critical Deal Maker

In order to set sail for the real war for the economy, it is has to be assumed that Government is the critical deal maker and broker delivering the Jobs to South Africa. This contradicts the idea of people on the other end of the spectrum that believe the private sector should deliver the jobs.  SA is undergoing a major period of reconstruction and attempting to ensure massive development, within the context of globalisation, it would seem obvious that the state needs, not less involvement in the economy, but more. All the "success" stories of growth in the post-World War II era - Germany, Japan, South Korea, Taiwan, etc. - have been characterised by massive state involvement in the economy. This has not been purely as a regulator, but also as a researcher, developer and entrepreneur.

Hence we should not be debating falsely in SA today, how Mandela betrayed the future, but rather, how are we betraying the future we profess to love today by not raising the right issues in the debate. Also trust me, if corruption is the first issue in your mind, it would also be amiss. Despite the existence of corruption, at the heart of the challenges we are faced with is the lack  of progressive ideology within Government driven to ensure that we are productive society. The idea that we as a country have committed to maximise resources, so that we are able to empower more people with the limited resource we own.   Inspiration, Inspiration, Inspiration. Be Inspired SA!       

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