I must declare a preference. I like the young people who are fighting for free higher education for all. Not only that, they’re also calling for the rich to be taxed more. Bless them. I like them because I firmly agree with the old geezer (some say it was Winston Churchill, others say Bertrand Russell, others say Benjamin Disraeli) who said: "If a man is not a socialist by the time he is 20, he has no heart. If he is not a conservative by the time he is 40, he has no brain." So, on to my good friend Tito Mboweni, the rather brilliant former Reserve Bank governor. He recently tweeted: "People must stop avoiding the issue of a state bank by making references to the poor cousins: the Postbank, Land Bank and DBSA [Development Bank of Southern Africa]. We are talking about an equivalent to the State Bank of India or some such. Deposit taking, banking and lending functions. Regulated by the central bank." What could he mean? He wants a bank that’s run similarly to those efficient and prof...

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