Christo Thurston via email
Ndumiso Mokako’s criticism of Trevor Manuel’s response to Minister of Small Business Lindiwe Zulu (“Trevor Manuel is singing for his supper”, City Press, December 27 2015) would leave many a reader perplexed.
As a national executive committee member of the ANC Youth League, Mokako evidently sings to the tune of his political affiliation by claiming that Manuel’s argument is clumsy. Yet Mokako’s argument is more perforated than the youth league’s reputation.
He poses the question: “What does market stability mean, if anything [to the working class]?”
One does not have to own millions in shares and bonds, nor does one have to be fortunate to belong to the upper class to have a basic understanding of market forces and the economy. Economics 101 spells it out clearly that instability in the markets, the weakening of a country’s currency and disinvestment translate into job losses, inflation that skyrockets and greater poverty.
Mokako further argues that Des van Rooyen’s appointment and Nhlanhla Nene’s sacking have nothing to do with the working class. In fact, the opposite is true.
Once credibility is lost in terms of fiscal control, an atomic bomb of economic disaster is ignited. Ultimately, the working class will pay the price when the prices of basic needs escalate astronomically.
It is common knowledge that capitalists are profit driven, but who would be the ultimate losers when the economy collapses? Not the business bourgeois. No, it would be the working class.
The writer sees the removal of Van Rooyen as “undermining the will of South Africa in the interest of a few powerful players of the capitalist class”.
In your view, Honourable Mokako, what is the will of South Africa? Was Van Rooyen’s removal only in the interest of the capitalist bourgeois?