Fanie Brink, Independent Agricultural Economist
"The government with its destructive socialist ideology and its social partners, Business Unity SA (BUSA), Business Leadership SA (BLSA), Business for South Africa (B4SA) and the National Economic Development and Labour Council (NEDLAC) do not even have a clue how economic growth is created and is not the solution for the very serious economic, fiscal and plunder in the country, says Fanie Brink, an independent agricultural economist.
He referred to the article, "Less talk, more work, says Business Unity SA" on the website of Businesslive today.
The Austrian-British economist, Friedrich Von Hayek has said: “If socialists understood economics, they wouldn’t be socialists!
Economic growth is not created by small talk and some economic reforms but by the supply and demand sides of the economy which is driven by the profit motive. Definitely not by the interest rate policy of the Reserve Bank which is the single biggest delusion in economic science! But they will never understand it while it is proven worldwide.
China will become the major power in the world by 2030 because it has accepted capitalism some years ago!!
The big problem is that the ANC government and its social partners stand far too close to the trees (the growing gap between the income and expenditure of the government, growing budget deficits, debt and no economic growth, higher poverty, famine, unemployment and inequality) to see the wood (the devastating socialist ideology) of the government. Socialism can and will never create any growth and there is more than enough evidence to prove it.
The former prime minister of the United Kingdom, Winston Churchill, has said: Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.”
He was over and over proven correct in countries such as the United Kingdom, Israel, India and China to name but a few.
Another British prime minister, Margaret Thatcher, has said: "The problem with socialism is that it eventually runs out of other people's money!"
It will, unfortunately, not sound familiar for the organised business in the country who should have known better!!
"What South Africa needs is a mixed capitalist/socialist economic system that can create economic growth and higher income for the government to address the very serious and critical social problems in the country if the economic illiteracy and incompetence as well as the corruption can be solved," he said.
“Without profit there can be no business; no employees; no incomes earned; thus, no economy. It is in the interests of everybody who is part of a business enterprise to recognise that the goal of the entire team is to progressively and vigorously be involved in the pursuit of profits.”
Temba A Nolutshunga, Director, Free Market Foundation
"In every single country where capitalism has been tried, free markets have been expanded, we have seen a mash growth in wealth and an elevation in the quality and standard of human life. We do not see it in other systems. On the reverse side we have seen every single time that where socialism was attempted it has led to destitution, devaluation and even death. It is a system that has failed every time it has been tried."
Hannah Cox, Foundation for Economic Education in the USA
