Category: Economy

The Left’s Billionaire Problem

Money, democratic control and the struggle over where power resides The growing political power of billionaires presents the left with a contradiction that it has not adequately confronted. The problem is not only that billionaires fund the right, purchase media platforms or use private wealth to influence governments. Very wealthy individuals and foundations are also […]

Whose Growth?

We do not seek to grow the economy. That statement, within the narrow confines of the present, is heresy. It is the ultimate rejection of the gospel according to the economists, the ministers, and the commentators who see only percentages and indices where we see suffering. Their eternal plea is for “growth,” for “investment,” for […]

The EU’s ‘Investment Package’ isn’t Aid — It’s guaranteed profit for private capital

The investment gap Over the past three decades, South Africa’s fixed investment — spending on physical assets such as factories, machinery, and infrastructure — has averaged just 16 percent of GDP. This is roughly half the average for upper-middle-income economies. Chronic underinvestment in the real economy, where most jobs are created, has contributed to the […]

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