Revolutionary greetings
So, I’m not going to bore you with the details of the economic diagnoses. Nor will I bombard you with policy prescriptions. I can’t avoid temptation, though, to reiterate that our country is facing the deepest economic crisis since the end of World War 2.The situation is so dire that one of the party’s elders, Thabo Mbeki, has warned that South Africa was ripe for an Arab Spring, a reference to the wave of unrest that toppled governments in Arab countries in 2011.
Let me start with Cardoso. He was recruited to become Brazil’s minister of finance during that country’s most difficult period of hyperinflation. As a sociologist, I knew that in open societies, confidence is just as important as technical competence. Communication between leaders and society is just as critical as the quality of the policies being implemented. Consequently, I took great pains to explain our logic, and our plans, to the Brazilian public for months in advance before the real was launched. I truly believe that this transparency was the determining factor of our success.
His government also broke up monopolies and privatised some state-owned companies “without ever abdicating the state’s necessary role as an economic agent, both in promoting development and in playing a direct role in some strategic areas, such as petroleum and finance”.
I hope we can get our priorities in order and be brave enough to act. For the sake of us all.
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