Treasury has distanced itself form an opinion piece written by Finance Minister Malusi Gigaba’s new economic advisor, Professor Chris Malikane,s aying he was writing the piece in his personal capacity.
In the piece published in the Sunday Times, Malikane who is an economics professor from the University of the Witwatersrand, called for nationalisation of banks, mines, and insurers in a bid to achieve “radical economic transformation”.
Speaking to CapeTalk's Kieno Kammies, Malikane elaborated on what he wrote in his 8-page opinion piece.
I am putting forward a position that says the working class in South Africa cannot keep quiet when the country is grinding toward what I call civil war...— Professor Chris Malikane, Associate Professor of Economics at University of Witwatersrand
The working class in South Africa need to come together to begin fashioning the country with a united front against what I call a white monopoly capitalist camp to restore the historical injustices that this country has experienced over many years.— Professor Chris Malikane, Associate Professor of Economics at University of Witwatersrand
Economist, Dr Iraj Abedian says nationalisation will not solve the country's problems, therefore we need to deal with the reality of economics and not the theory of the "could have been".
Capitalist is not regulated. If the ethics in the government is not correct they end up exploiting the society.— Iraj Abidian, Executive Chairman at Pan-African Capital Holdings
By nationalising you not solving the problem, you dealing with the symptom. You actually end up with the bigger problem.— Iraj Abidian, Executive Chairman at Pan-African Capital Holdings
We have had in history many examples of absolute failures of national entities both in South Africa, China and Russia.— Iraj Abidian, Executive Chairman at Pan-African Capital Holdings