What can one say about Finance Minister Malusi Gigaba’s new choice of economic adviser, Christopher Malikane, other than to throw up one’s hands in despair? Malikane has set out his stall in an eight-page summation of his ideas published in various newspapers at the weekend. His ideas are rooted in Marxist voodoo economics. For a finance minister to be taking advice from one with such outmoded and unorthodox ideas puts SA on the path towards such economic disasters as Zimbabwe and Venezuela. Doing so is an act of grotesque irresponsibility. There is, of course, a legitimate debate about the pace and nature of transformation in SA. Nobody can or should deny that SA remains a racially skewed society — hardly a surprise given its history. However, SA has been steadily tackling this problem with extraordinary success over the past two decades. SA’s black middle class is now numerically larger than its white middle class. Notwithstanding the repeated misinformation on the topic by no les...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.