This column caused quite the stir last week despite it being basically an attempt to help warn left-wing economists that they might be about to further the aims of state capture, as espoused by Ace Magashule, by continuing to argue for an expanded Reserve Bank mandate and a massive spending spree by the state with little regard for the inflationary effects.

I wrote it after watching Neil Coleman, co-director of the Institute for Economic Justice (IEJ), on television having Magashule’s statement after an ANC national executive committee (NEC) meeting read to him in a live interview with Vuyo Mvoko on eNCA; I was frightened at how enthusiastic he was about what Magashule was proposing. Because, as it turned out, Magashule had made a lot of the stuff about the Bank up, and it hadn’t been agreed at the NEC meeting. He had added it to the official statement and I assumed, in my innocence, that Coleman didn’t know...

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