SA’s recovery plan continues apartheid’s ‘accumulation by dispossession’

After centuries of slavery, colonialism, apartheid and democracy SA has emerged as the most unequal country in the world. Illustration: KAREN MOOLMAN

Were the intention to support growth, development and prosperity in the developing world, time-tested, empirically grounded and macroeconomically stable approaches would have been proposed. But by design their approach has nothing to do with development, rather the creation of what is termed infrastructure as an asset class.

Beyond the traditional economic infrastructure such ports, roads, freeways, networked infrastructure, logistics and utilities, infrastructure financing includes investment in commodities/resources infrastructure ; social infrastructure ; as well as information infrastructure ; and natural infrastructure such as payment for environmental services. Finance infrastructure, including SMME finance is not left out either.

To “maximise the mobilisation of international and domestic resources without undermining the integrity of the financial system”, as government writes, is inconsistent with the mechanics of the World Bank/G20 agenda from where this phrase is copiedAll this on account of the most fallacious economic thinking the Treasury and the Reserve Bank popularise to make it valid: “The country has no or low savings,” therefore we need private money, foreign and local for development.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ramaphosa wishes Mkhizes a speedy recovery, calls on SA to help avoid second waveHealth minister is in quarantine at home after he and his wife tested positive for virus Idiot. There was no first wave. It is just a flu.
Source: BDliveSA - 🏆 12. / 63 Read more »

To get jobs back, get the employers backThere's something I can't quite grasp about the economic recovery plan President Cyril Ramaphosa announced on Thursday.
Source: SundayTimesZA - 🏆 47. / 51 Read more »

Agriculture plan will boost growth and development, Agri SA saysFarmers’ bodies stress importance of access to local and international markets
Source: BDliveSA - 🏆 12. / 63 Read more »

Agriculture plan will boost growth and development, Agri SA saysFarmers’ bodies stress importance of access to local and international markets
Source: BDliveSA - 🏆 12. / 63 Read more »

Buy local to boost SA's recovery | CitypressOPINION | Every South African has an important part to play in the recovery of our economy, and through our spending power on everyday products and services that are locally produced, we can help revive our economy, writes Eustace Mashimbye Supporting local businesses is Xenophobic Yes, this is exactly what we are preaching.
Source: City_Press - 🏆 7. / 72 Read more »

Ramaphosa defends public works programme in recovery planPresident CyrilRamaphosa defended the public employment drive incorporated in an economic recovery plan unveiled last week, saying it provided a respite for families who have endured a long, hard winter with greatly reduced income due to Covid19.
Source: IOL - 🏆 46. / 51 Read more »