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Capitalism is not recent or ‘Western’, it is natural and necessary...

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Proponents of socialism and social democracy would have you believe that capitalism is a purely Western construct that carries no deeper legitimacy in terms of our evolutionary development or our historical roots. They claim that the hierarchical nature of capitalism was imposed by the West, and without this system, humans wouldn’t arrange themselves hierarchically.

BOOK REVIEW | Another Now

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Imagine it is 2025. Years earlier, in the wake of the financial crisis of 2008, a global hi-tech uprising has birthed a post-capitalist world in which work, money, land, digital networks and politics have been truly democratised. In a thought-experiment of startling originality, world-famous economist Yanis Varoufakis offers a glimpse of this alternative reality.

COVID-19: should executives pay be cut to support employees?

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As the business world feels the effects of the coronavirus (COVID-19) pandemic and takes steps to adapt, companies are asking how they should approach their executives’ remuneration during this difficult time. Why is it so important for Boards and Remuneration Committees to address this issue? 

Why own when you can rent?

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The creative destruction of the access economy is disrupting traditional industries and creating new opportunities. The rent or buy conundrum is one usually faced by prospective home-owners but it is increasingly applicable to entrepreneurs as well.

Reduce poverty through jobs & reduce inequality through education

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Oxfam is at it again. With their latest report we are back to the same old mantra: wealth inequality is on the rise and the only solution is to tax the hell out of the rich. Further reflection reveals that the solution isn’t that simple. But first, some relevant distinctions.

The fundamental reason for belief in socialism

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The heart of socialism is the class system. Whether it is Julius Malema or Vladimir Lenin or Fidel Castro or your Professor of Sociology, all socialists believe they belong to a superior class entitled to rule the inferior classes.

The malign folly of ‘Stakeholder’ theory 

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The only social responsibility of business is to use its resources and occupy its energies in the generation of wealth, so long as it stays within the rules of the game, which are to engage in open and free competition, without deception or fraud.

Apple and value creation

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Ann Crotty, in the Financial Mail (The price we pay for Apple’s greed) paints Apple as a blight upon our civilization, an entity that only takes and gives nothing in return. Apart from the assumption that businesses must ‘give back’ (which goes unexamined in articles attacking capitalism and profit), the biggest problem with Mrs Crotty’s argument is that it rests on the idea that Apple held a gun to its customers’ heads and forced them to hand over their money.

South Africa is not capitalist, but needs to be!

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To say that South Africa is a capitalist society is popular among journalists, politicians, and trade unionists. If capitalism is understood to mean a system of free and voluntary engagement without third-party interference, the notion that South Africa is capitalist is false.

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