Dear friend of the FMF
In this week’s feature article, authors Leon Louw and Martin van Staden propose that the South African government should stop its multiplicity of interventions in, and government controls over economic activity, which result in stagnation and oppression. They argue that South Africa should rather seek to emulate policies that have been shown to produce high growth and reduced poverty in highly successful countries. They suggest that policies such as the expropriation of property without compensation led to the poverty and economic decline in countries such as Zimbabwe, Venezuela, and North Korea.
South Africa should follow winners, not losers – LEON LOUW AND MARTIN VAN STADEN
Nationalisation of property, inefficient State-owned enterprises, raising the legal drinking age from 18 to 21, and higher taxes in a low-growth environment. These ideas have all been tried elsewhere. And they have failed consistently, with few exceptions. The opposite of these ideas: strong protections for private property, an active and entrepreneurial private sector, personal freedom, and low taxes, have also been tried quite widely, and, essentially, everywhere they have been tried, they have worked. Why, then, does South Africa insist on following the losers and not the winners?
Wednesday, 18 April 2018 EVENING EVENT – Professor Grietjie Verhoef – New research - history of strong African entrepreneurship held back by powerful constraints @17h45 @ FMF – RSVP http://www.freemarketfoundation.com/View-Event?i=176
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Publish date: 18 April 2018
The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation. This article may be republished without prior consent but with acknowledgement to the author.