Wednesday, June 3, 2009

HopeFully Zuma Means to Tackle the Economic Problem

President Zuma of South Africa has promised to tackle economic problem head on, it’s about time. There has been no serious attempt since the end of apartheid.


A key to solving the economic problem is to understand that 20% of the population exist on less than a dollar a day. What I am about to say is a cold hard reality, I wish it was not so, but those earning a dollar a day would be happy to earn 3 dollars a day, with 50c going towards a pension fund run independently of the firm, pension funds are not assets. Everything takes time, things are built day by day, yes 3 dollars a day sounds insulting, but people are insulted everyday as they build. At the least their ideas will not have been stolen.


The answers are in front of Zuma, lift the lowest of the low, and the rest will be uplifted, vs, the white elitist ideology lift the high and it will trickle down. Look at China, started by lifting the lowest of the low. But you must love them not try to exploit them, give them respect and dignity as they are lifting the nation. I promise foreign investors will come and invest at 3 dollars a day, it is better than 1 dollar a day. Their children will be far better off, I promise as South Africa will be well on its way to being a first world. Another way is too daunting, it can not be done at the present. But with enough will and respect remember knowledge, look at new industries coming up around the world, and build them in South Africa if you are not scared to compete.


Why not both, labor intensive 3 dollars a day, as well as sectors that are in cutting edge industries, electric car, hydrogen fuel cells, solar panels, wind turbines, do them both, give incentives for both.


Bhekuzulu Khumalo

1 comment:

Economic Stability said...

I was really impressed with his speech on the world economic forum he attended last January, this is what he said "Workers have rights and know their rights. They will exercise these rights from time to time. Strikes hardly make headlines in other countries as they are normal occurrences. In South Africa these tend to be seen to indicate that the country is somehow falling apart."



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Bhekuzulu Khumalo

I write about knowledge economics, information, liberty, and freedom