Browsing All posts tagged under »Adam Smith«

A Budget by any other name would smell the same

February 23, 2017

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THE more things change, the more they stay the same. This applies not only to the latest South African Budget, but to almost all such economic policy statements as finance ministers continually repeat variations on the same failed remedies, apparently in the hope of different outcomes.

Mired in a parochial midset & ignorant of history

May 31, 2015

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The parochial mindset of nationally-based companies and trade unions reveals asn ignorance of economic history, including the fact that shareholder companies — a cornerstone of our system — were banned in Britain for 105 years because of their inherent tendency to be corrupt.

Business shoots itself in the wages foot

August 31, 2014

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The opening salvoes have again been fired in another round in South Africa's war about a national minimum wage. Yet without more work with decent pay and a radical change in overall policy direction, the country's social fabric will continue to fray and tear

Hindsight is also a blinkered perspective

July 13, 2014

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Even the outrageous proposal by satirist Jonathan Swift that the problem of poverty could be dealt with by eating the children of the poor has failed, after 300 years, to bury to mistaken notion that procreation and "over population" is the cause of poverty.

Voodoo economics, journalism & human rights

January 7, 2011

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It is time we all stopped bowing down at the altar of voodoo economics and acknowledged that our world is in crisis. And that this crisis is a consequence of adherence to an almost religious belief that “the market” is some sort of sane and sensible mechanism; that the mystical “invisible hand” mentioned by Adam Smith is a reality.

Voodoo economics, journalism & human rights

January 1, 2011

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(First published:  February, 2006) It is time we all stopped bowing down at the altar of voodoo economics and acknowledged that our world is in crisis.  And that this crisis — not of shortages, but of gluts — is a consequence of adherence to an almost religious belief that “the market” is some sort of […]