Ebrahim-Khalil Hassen - Current debates on the motor industry rescue plan remind me of the origins of the term "Hobson’s choice". The phrase draws from a Mr. Hobson that rented out horses, and gave his customers no choice as to which horse they would rent. By limiting the choices available to customers, Mr. Hobson ensured that he both managed his stock, and ensured a rotation of horses. South African motor industries, through skilful lobbying, are arguing that the rescue plan is the only option...
Fazila Farouk - The global financial crisis has exploded onto the scene, bringing with it job losses, home losses and family murder-suicides. This crisis may be financial, but its costs are human. The culprit, ‘capitalism’ has been named and shamed and the casino they call Wall Street, exposed. Under the disapproving gaze of the world’s ordinary people, elites appear confounded. How did they get it so wrong? Why didn’t they see the writing on the wall? What were the predictions of...
Mohamed Motala - Both the President’s State of the Nation address delivered on 8 February 2009 and the Finance Minister's Budget Speech, which followed a few days later have told us that South Africa's 'policies' are in place and that the main problem facing our nation is poor implementation. The State of the Nation address and the Budget Speech are the two most important policy agenda-setting opportunities that the two most powerful men in the country have at their disposal. They present opportunities...
Saliem Fakir - The recently released Framework for South Africa’s Response to the International Economic Crisis (19 February 2009), by the Presidency, calls for all South Africans to work together and build social solidarity to get us out of this crisis. But how the one part of South Africa comes to the party with the other is entirely asymmetric, as the weaker half will come limping rather than race to the cause. The document declares noble ideals to strive for. To get there and build a truly...
Glenn Ashton - It is clear that we have entered a global economic fire-storm. There are inevitable comparisons between the Great Depression which also began on Wall Street and which will affect each of us, where ever we live, as if we were US citizens. Besides comparisons being odious, no two historical events are ever identical in either cause or effect. There certainly may be similarities between the Great Depression and the Pretty Damn Massive One into which we are now sinking. Those in the navigation...
Saliem Fakir - An Austrian colleague of mine relays a dinner story. We are talking over lunch at a little side cafe in idyllic Stellenbosch. There was a discussion about Obama and the historic moment for the United States when he took the presidential oath. Obama holds great symbolic significance to all black and other non-white people of the world. It is an important affirmation because he rose through the ranks on the basis of merit. But many whites also voted for him. He is of course a highly...