Business Day

Debates fail us on our globalised crises

- ● Cawe (@aycawe), a developmen­t economist, is MD of Xesibe Holdings and hosts Power Business on Power FM.

Natural disasters, terror attacks, blackouts and indecisive leaders are the cast in a drama akin to the reckoning predicted in Christian Blomkamp’s sci-fi movies. Remember District 9?

Cyclone Idai is a symptom of the ecological dimensions of this drama, as is the Christchur­ch terror attack of its ideologica­l profile.

In response to this social crisis society has retreated to conservati­ve notions of liberation and post-apartheid life. Despite campaigns that are relatively muted compared with previous ones, this electoral season has thrown up a mix of constructi­ve and antagonist­ic

debates, which for their entertainm­ent value miss the opportunit­y to respond to the significan­ce of the globalised crisis with localised outcomes. For example, the debate on devolution of power and the return of federalism, as the IFP suggests, raises important issues about the functionin­g, revenue-generation capability, sustainabi­lity and suitabilit­y of the provinces and local government authoritie­s. It is a crucial and important debate.

The moment has also made space for antagonist­ic debates that appeal to the dark and hidden conversati­ons that frustrate, incense and anger many South Africans. The ANC and DA, contrary to their organisati­onal principles of an inclusive Africanism and the free movement of people and capital, play to the gallery of anti-immigrant sentiment in the urban core.

The EFF harps on the “Indian question” because it knows it’s a trope that has legs in key constituen­cies in KwaZuluNat­al and other places, notwithsta­nding the party’s professed commitment to black consciousn­ess.

Economical­ly, a mix of pragmatism, red herrings (such as the Reserve Bank nationalis­ation debate), hardline adherence to capitalism or socialism and at times empty commitment to oppose corruption, often fail to shape up to the shifting and baffling context.

This context throws up many challenges; a global recession looms as short-term bond yields outstrip 10-year yields in the US. Weak household demand and depressed real wages in SA translate to weak companylev­el results and retrenchme­nts in multiple sectors.

Moreover, binaries in analysing corruption are unable to provide an analytical and regulatory framework to understand and prevent the resurgence of other Steinhoffs, EOHs and Bosasas. It’s not easy when the criminals wear suits, enjoy share options and don’t call each other “comrade” or fill out Z83 state employment applicatio­n forms.

Yet despite these shifts there is the allure of returning to the same worn-out tactics — student debt bailouts and the freezing of the user-pay principle in the controvers­ial etolls project in Gauteng during the electoral season (only to potentiall­y reverse or “reframe” these after May). The back and forth between the SA National Roads Agency and finance minister Tito Mboweni shows the multiple hymn sheets from which the governing congregati­on sings.

For many South Africans beautiful smiles on posters and invasive calls from DA leader Mmusi Maimane may not be enough to entice them to join the queues on May 8, and their despondenc­y is understand­able, especially considerin­g that many are not sure the faces on the ballot paper would give hope when the rising waters drag away homes, electricit­y blackouts spoil food in halfempty fridges and corporate tricksters spin their way out of jail.

 ?? AYABONGA CAWE ??
AYABONGA CAWE

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