ON THE MONEY
STUART THEOBALD: Special pleading disguises instinct to keep control and protect vested interests
Protectionism is a worldwide problem. Donald Trump is lining the pockets of steel barons with other Americans’ money
Protectionism is the last refuge of the scoundrel. When simple customer demand isn’t enough, businesses appeal to base nationalism and invoke the need to protect jobs or, in a uniquely South African variation, the jobs of black people. Protectionism is a worldwide problem. Donald Trump is lining the pockets of steel barons with other Americans’ money under the guise of protecting nationalist US interests from China. Britain is committing an act of epic self-harm to "take back control" via Brexit. In SA the same instinct has been at work in the pay-TV industry, electricity industry and even banking. When business people start espousing the importance of protecting jobs, see it for what it is: their ambition to keep profits high. Last week DStv argued before the Independent Communications Authority of SA that it should be protected from online streaming video services such as Netflix and Amazon, saying it should protect its 8,000 employees, most of them black.DStv has been gouging con...
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