Capitalism. It is the system under which we all live and which we are all most familiar with. It is the system under which the majority of people in the world have lived under since, variously, the 15th and 16th centuries, and which saw its full actualization in the industrial revolution in the 19th century— Trevor Ngwane, University of Johannesburg
Talk Radio 702 host, Eusebius McKaiser together with Sikhonathi Mantshantsha, Financial Mail, Deputy editor and Trevor Ngwane, scholar activist and Doctoral Candidate at the the Social Change Research Unit, University of Johannesburg talk about whether capitalism is unjust or not.
Mantshantsha says capitalism is the best economic system not only in South Africa but globally adding that it is the best way for humanity to distribute resources.
Ngwane however disagrees, saying it does not bring out the best in humanity.
Colonialism is unjust. Let's look at the children of capitalism historically, slavery, colonialism, apartheid, the two world wars.— Trevor Ngwane, University of Johannesburg
We see the rich getting richer, the poor getting poorer. Capitalism is a bad system. It must go.— Trevor Ngwane, University of Johannesburg
Mantshantsha defines capitalism as every individual doing their bit to attain resources and means to sustain their livelihood.
Ngwane says capitalism is an economic and political system. He adds that it is based on private property where a group of people own property such as factories land and mines.
Listen to the entire conversation here:
This article first appeared on 702 : [LISTEN] Eusebius's guests discuss the pros and cons of capitalism